Shares of PNB Housing Finance were trading in the green and 1% higher on 17 November after the company said that it is set to consider raising funds worth Rs 3,500 crore through NCDs.

In its regulatory filing, the company said that the Board of Directors are set to meet on 24 November to consider and approve the issuance of NCDs (non-convertible debentures) up to Rs 3,500 crore on a private placement basis over the period of next six months.

Girish Kousgi, MD and CEO of PNB Housing Finance, said that the company should reach the Rs 1,000 crore mark by the end of the third quarter.

After the end of the July-September quarter, the company reported a book close of Rs 750 crore. However, the company expects that during this quarter, the book close is expected to touch Rs 1,00 crore, and by the next quarter, the business will reach Rs 2,000 crore.

Over a period of six months, shares of the company have gained 66.52%, against the 8.71% gain in the benchmark index Nifty 50.

As of 30 September, the promoter of the company, Punjab National Bank, has slightly decreased its holding by 10 basis points in the company to 28.1%. On the other hand, FIIs (foreign institutional investors) increased their stake to 24.81%, and DIIs (domestic institutional investors) held a 7.7% stake in the company. In comparison, the public held a 39.3% stake in the company.

At 11:10 am, the shares of PNB Housing Finance were trading 1.10% higher at Rs 784.65 on NSE.