Shares of PNB Housing Finance were trading in the green and 1% higher on 28 November after the company announced receiving a nod from the board to raise funds.

In its regulatory filing, the company said that the Board of Directors of the company have approved to raise funds up to Rs 3,500 crore by way of issuance of non-convertible debentures (NCDs) on a private placement basis in multiple trenches over the next six months.

This is the third such instance of the company raising funds in the current calendar year.

On 22 June, the company received approval from the board to raise Rs 5,000 crore through NCDs in tranches on a private placement basis.

Earlier in March, the company’s board had approved a rights issue for around 9.06 crore shares at an average price of Rs 275 per share to raise Rs 2,500 crore. The rights entitlement ratio for the issue was set at 29:54, under which 29 shares were offered for every equity share held by an eligible shareholder.

At 1:38 pm, the shares of PNB Housing Finance were trading 1.05% higher at Rs 791.45 on NSE.