PNB Housing Finance to take shareholders' nod to mop up to Rs 45,000 cr
New Delhi: PNB Housing Finance will take its shareholders' approval to mop up to Rs 45,000 crore through debt securities. The money can be raised in one for more tranches. The approval will be sought next month.
The company can issue the bonds either through pub issue or on private placement basis. Bonds or non-convertible debentures form major portion of the total borrowings of the company, it said.
Shareholders are “being requested to authorise the board of directors to offer, from time to time, the subscription of redeemable, secured/unsecured non-convertible debentures (NCDs) aggregating up to Rs 45,000 crore in one or more tranches”, the company said in a regulatory filing.
PNB Housing Finance’s AGM is scheduled to be held on 5 August 2020.
In the last fiscal 2019-20, n 2019-20, PNB Housing Finance clocked net interest income of Rs 2,308 crore which was 12 percent higher as compared to the previous fiscal.