On June 19, PNB Housing Finance shares zoomed higher after the company proclaimed its second fundraising plan in under 3 months. At 9:20 am, the stock was trading at Rs 577 on the NSE, higher by 1.2% from the preceding close.
On June 22, the housing financier’s board will discuss an offer to raise Rs 5000 crore over the private placement of Non-Convertible Debentures (NCDs).

PNB Housing Finance’s board permitted a rights issue of around 9.06 crore shares at Rs 275 per share to raise up to Rs 2,500 crore. The right title ratio was 29:54, under which 29 equity shares were vacant for every 54 units held by an eligible equity shareholder on the record date.

Market participants believe the firm is aggressively fundraising to meet the rising demand for home loans. The RBI announced two rate hike pauses, and with cuts predictable to roll out from December, home loans will also develop cheaper.
The back-to-back fundraising plans come after the firm settled with SEBI in July 2022. It was regarding an argument involving alleged rules violations in preferential securities to the US-based Carlyle Group.

In Q4FY23, PNB Housing Finance stated a combined net profit of Rs 279 crore, recording a growth of 64.7%, associated with Rs 170 crore in the consistent period last year. The company’s net interest income (NNI) for the January-March quarter came in at Rs 627 crore, posting a rise of 27%, related to Rs 494.7 crore in the last period.
The company’s gross non-performing assets (GNPA) stood at 3.83% on March 31, 2023, versus 8.13% on March 31, 2022, and 4.87% on December 31, 2022.