PNB Housing Finance Rights Issue will open for subscription from 13 April 2023. the company aims for an issue size of ₹2,493.76 Crores through this rights Issue.
About the company
Incorporated in 1988, PNB Housing Finance Limited is a subsidiary of Punjab National Bank. The entity offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers.
The company targets its services of housing loans towards customers like salaried individuals, whose main source of income is the salary from their employment, and self-employed customers, whose main source of income is their profession or their business. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.
The company has a Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located in New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore, and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, the company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.
Objectives of the Issue
- Augmenting our capital base;
- General corporate purposes.
Rights Issue Timetable
| Last Date to buy shares | 03 April 2023 |
| Record Date | 05 April 2023 |
| Credit of Rights Entitlements | 12 April 2023 |
| Bid/Offer Opens On | 13 April 2023 |
| Renunciation of Rights Entitlements | 24 April 2023 |
| Bid/Offer Closes On | 27 April 2023 |
| Deemed Date of Allotment | 12 May 2023 |
| Credit Date | 15 May 2023 |
| Listing Date | 17 May 2023 |
PNB Housing Finance Rights Issue Details
| Issue Open | Apr 13, 2023 – Apr 27, 2023 |
| Security Name | PNB Housing Finance Limited |
| Issue Size (Shares) | 90,681,828 |
| Issue Size (Amount) | ₹2,493.76 Crores |
| Issue Price | ₹275 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount of the Issue Price of Rs. 275 per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 29 Rights Equity Share(s) for every 54 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 65,729.61 | 6,200.73 | 836.48 |
Rights Issue Documents
Lead Manager(s)
- Axis Capital Limited
- BNP Paribas
- BofA Securities India Limited
- J.P. Morgan India Private Limited
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: pnbhfl.rights@linkintime.co
Website: https://linkintime.co.in/
Company Contact Information
PNB Housing Finance Limited
9th Floor, Antriksh Bhavan,
22 Kasturba Gandhi Marg,
New Delhi – 110 001
Phone: 011 – 23736857
Email: loans@pnbhfl.com
Website: http://www.pnbhfl.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
