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Home News PNB Housing Finance raises ₹2,500 Cr rights issue with an entitlement ratio...

PNB Housing Finance raises ₹2,500 Cr rights issue with an entitlement ratio of 29:54

PNB,

The rights issue of approximately 9.06 crore shares has been approved by the board of PNB Housing Finance Limited to raise 2,500 crore in funds. 275 for each share At its meeting on Tuesday, March 28, the board approved the rights entitlement ratio of 29:54, which stipulates that 29 equity shares will be issued for every 54 equity shares owned by an eligible equity shareholder on the record date. The company will issue 9,06,81,828 fully paid-up equity shares for Rs. 2,493.76 crore. 275 for each equity share that has been paid in full, with a premium of 265 for each equity share.

The record date has been set for Wednesday, April 5, 2023, in order to determine which Equity Shareholders are eligible to receive rights from the Rights Issue. From April 13 to April 27, 2023, the issue will be in effect. 16,88,55,818 fully paid-up equity shares will remain outstanding prior to the rights issue. Furthermore, the completely settled up value shares after the privileges issue will increment to 25,95,37,646.

“Furthermore, the company has made the necessary arrangements with NSDL and CDSL for credit of rights entitlement in dematerialized form, in accordance with SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2020/13 dated January 22, 2020.” The eligible equity shareholders’ demat account as of the record date. The rights entitlement ISIN is INE572E20012. In a stock exchange filing, PNB Housing Finance stated that “before the date of issue opening, the rights entitlements of the eligible equity shareholders as on the record date shall be credited to the respective demat account of the eligible equity shareholders under the aforementioned ISIN.”

At the meeting on March 9, 2023, the Board of PNB Housing Finance discussed and decided to offer equity shares to existing shareholders via rights issue for a maximum of 2,500 crore.

At the time of writing, PNB Housing Finance shares were last seen trading at 487.10 per level today.

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