Shares of PNB Housing Finance Ltd shot up 7% on 9 September after the company’s board approved plans to raise funds up to Rs 2,500 crore via Non-Convertible Debentures (NCDs). 

The Board of Directors of the company have approved raising funds up to Rs 2,500 crore in more than one tranches over the next six months. 

PNB Housing Finance has recently seen notable stake sales by major investors such as The Carlyle Group, General Atlantic Singapore, and Asia Opportunities V (Mauritius). 

Despite these transactions, the company posted a strong first quarter, with a 25% increase in net profit to Rs 433 crore. This growth was driven by home loans, with disbursements rising 19% year-on-year to Rs 4,398 crore. 

Retail disbursements comprised 99% of the total, and the affordable housing segment contributed significantly, making up 33% of the retail disbursements.

At 3:30 pm, the shares of PNB Housing Finance closed 5.20% higher at Rs 1,076.60 on NSE.

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!