PNB Housing Finance Secures Rs 10,000 Crore for Growth

PNB Housing Finance announced its board-approved plan to raise Rs 10,000 crore via Non-Convertible Debentures (NCDs). These funds, to be acquired through private placement in multiple tranches, aim to support business expansion, particularly in the affordable housing segment. The company's loan book closed at Rs 63,000 crore in FY'24.

PNB Housing Finance on Tuesday revealed its board has authorized a capital raise of Rs 10,000 crore through Non-Convertible Debentures (NCDs) to drive its business growth.

According to a regulatory filing by the company, the funds will be sourced via NCDs on a private placement basis, issued in one or more tranches.

The mortgage lender aims to enhance its loan book by 17%, with a special focus on the affordable housing segment. PNB Housing concluded the fiscal year FY'24 with a loan portfolio amounting to Rs 63,000 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)