PNB Housing Finance said that its board has approved a proposal to raise Rs 2,500 crore by way of issue of equity shares on rights issue basis to eligible shareholders.
The announcement was made after market hours yesterday, 9 March 2022.
PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses.
The company's consolidated net profit declined 18.9% to Rs 188 crore on 21.1% in total income to Rs 1,495.61 crore in Q3 FY22 over Q3 FY21.
The scrip rose 0.60% to end at Rs 420.35 on the BSE yesterday.
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