PNB Housing Finance Ltd. announced on Wednesday that its Board of Directors will meet on Monday, September 9, 2024, to discuss and possibly approve the issuance of Non-Convertible Debentures (NCDs) totaling up to Rs.2,500 crore.
The NCDs are planned to be issued on a private placement basis, in multiple tranches over the next six months.
PNB Housing Finance Ltd.'s board of directors is set to consider raising up to Rs.2,500 crore through non-convertible debentures (NCDs) at a meeting scheduled for next Monday. The funds will be raised via private placement in multiple tranches over the next six months, as per a Wednesday exchange filing.
In August, Asia Opportunities V (Mauritius) Ltd. sold 78 lakh shares, equivalent to a 3% stake, for Rs.676 crore through open market transactions. Additionally, General Atlantic Singapore Fund FII Pte. and Pioneer Investment Fund divested 5.13% and 0.23% stakes, respectively, for Rs.11,000 crore through open market sales.
Shares of PNB Housing Finance rose by 4.99% to Rs.1,052.90 on the BSE, despite a 0.25% decline in the benchmark Sensex. The stock has gained 58.93% over the past 12 months and 34.85% year-to-date.
Of the 12 analysts covering the company, 10 have a 'buy' rating, one recommends 'hold,' and another suggests 'sell,' according to Bloomberg data. The average 12-month price target indicates a potential downside of 4.8%.
PNB Housing's stock opened at ₹972.35 and reached an intraday high of ₹1,088.70, marking a significant gain. It also dipped to a low of Rs.959.75 before recovering. The stock saw considerable activity, with a trading volume of 59,47,391 shares so far. Compared to its previous close of Rs.1,002.80, the stock exhibited notable price fluctuations throughout the day.
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
