PNB Housing Finance plans to raise Rs 10,000 cr by issuing bonds through public issue

New Delhi: PNB Housing Finance on Tuesday said it plans to raise up to Rs 10,000 crore by issuing bonds through public issue.

The board of directors of the company in a meeting held on Tuesday approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing.

The company said the money will be raised in one or more tranches.

PNB. Representational image. AFP.

PNB. Representational image. AFP.

It is promoted by state-owned Punjab National Bank, which holds 32.96 percent in the housing finance subsidiary.

The rest of 67.04 percent is owned by institutional investors, including mutual funds, venture capital funds, foreign portfolio investors; financial institutions and banks; individuals and foreign companies.

The company had registered a rise of 58 percent in its net profit at Rs 829.41 crore in fiscal ended March 2018.

Total income during the year stood at Rs 5,516.96 crore.

PNB Housing had disbursed Rs 33,195 crore loans during 2017-18, an increase of 61 percent over the preceding fiscal year. Its asset under management stood at Rs 62,252 crore as on 31 March, 2018.

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Updated Date: Jun 26, 2018 19:21:37 IST

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