The housing finance company on 14 August 2020 announced that its board will meet on Wednesday, 19 August 2020, to consider fund raising.
PNB Housing Finance is planning to raise funds by issuing equity shares and/or other securities through any permissible modes, as may be considered appropriate, subject to such approvals as may be required.
Meanwhile, Punjab National Bank on 31 July 2020, announced that it will infuse upto Rs 600 crore in PNB Housing Finance through preferential issue/rights issue etc. subject to regulatory approval as and when PNB Housing Finance decides to raise capital.
PNB Housing Finance's consolidated net profit slipped 9.6% to Rs 257.18 crore on 16.1% decline in total revenue from operations to Rs 1,872.33 crore in Q1 June 2020 over Q1 June 2019.
Shares of PNB Housing Finance rose 0.71% to Rs 240.55. The firm is a deposit taking housing finance company. As on 30 June 2020, the company had 103 branches with presence in 64 cities and 23 hubs. The company also services the customers through 27 outreach locations.
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