PNB Housing Finance board approves to raises Rs 2,500 Cr rights issue

New Delhi: India's one of the top housing finance companies, PNB Housing Finance board in its meeting has approved to raise funds up to Rs 2,500 crore. In its BSE filling the Housing Finnace mentioned that the, this is further to the meeting of the board of directors of the Company (“Board”) dated March 9, 2022, where the issue of fully paid-up equity shares of the Company of face value of Rs 10 each (“Equity Shares”) was approved by way of a rights issue for an amount not exceeding Rs 2,500 crore (“Rights Issue”).

The Total number of Equity Shares and Rights Issue size: 9,06,81,828 fully paid-up Equity Shares each for amount aggregating up to Rs 2,493.76 crore;

The right entitlement ratio of 29:54, under which 29 equity shares would be issued for every 54 equity shares owned by an eligible equity shareholder on the record date, was adopted by the board at its meeting on Tuesday, March 28. 

Rights Issue Price: Rs 275 per fully paid-up Equity Share (including a premium of Rs 265 per Equity Share).

Record Date: Wednesday, April 05, 2023 designated for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (“Eligible Equity Shareholders”)

Further, in terms of SEBI Circular SEBI/HO/CFD/DIL2/CIR/P/2020/13 dated January 22, 2020, the Company has made necessary arrangement with NSDL and CDSL for the credits of the rights entitlements in dematerialized form in the demat account of the eligible equity shareholders as on the Record Date. The ISIN of such rights entitlement is INE572E20012. The rights entitlement of the eligible equity shareholders as on the Record Date, shall be credited prior to the issue opening date, in the respective demat account of the eligible equity shareholders
under the aforementioned ISIN.

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