PNB Housing Finance, on June 17, announced that it plans to raise Rs 5,000 crore capital via non-convertible debentures (NCDs) on a private placement basis. The finance company’s board of directors will meet on June 22 and will approve the issuance of NCDs.
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PNB Housing Finance is a deposit-accepting housing finance company,with second largest deposits outstanding within housing finance companies.
“The company’s board of directors are is scheduled to be held on Thursday, June 22, 2023 inter alia to consider and approve issuance of Non – Convertible Debentures aggregating up to INR 5,000 Crore (Rupees Five Thousand Crore Only) on Private Placement Basis,” said PNB Housing Finance in its regulatory filing.
It reported a consolidated net profit of ₹279 crore, registering a growth of 64.7 per cent, compared to ₹170 crore in the corresponding period last year. The net-interest income for the January-March quarter was ₹627 crore, a rise of 27 per cent, compared to ₹494.7 crore in the year-ago period.
Revenue from Operations also upswinged by 14.71 per cent at ₹1,635.71 crore, as compared to ₹1,425.83 crore in the same period last year. According to the regulatory filing by the company, disbursements during FY23 grew by 33 per cent year-on-year to ₹14,965 crore.
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Credit rating agencies ICRA, CRISIL and India Ratings upgraded the outlook of PNB Housing Finance to ‘stable’ from ‘negative’ in FY23.
