Diabytes
PNB Housing Finance News
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The special interest rates are applicable on all new and renewed fixed deposits booked until 31st March 2024.
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The increase in the retail lending reference rate will take effect on May 9, 2022.
Retail and corporate loans create PNB Housing Finance's asset base.
It also offers loans against properties as well as loans for the purchase and construction of non-residential buildings.
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The deal was earlier finalised on May 31.
Soon after, it mired into a controversy.
Subsequently, the matter reached the Securities Appellate Tribunal (SAT).
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The proposed transaction has been contested by Sebi over valuation issues and PNB Housing Finance had moved the tribunal against the regulator's directive passed in June.
The two-member bench of Justice Tarun Agarwala and Justice M T Joshi has delivered a split verdict on the matter.
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The market capitalisation of PNB Housing Finance stood at Rs 21,199.07 crore and that of Punjab National Bank was at Rs 20,842.33 crore.
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The work on consolidation would start after recapitalisation as it is going to be a booster for capital adequacy, he added.
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PNB Housing Finance on Thursday reported a 93 percent jump in net profit to Rs 184.80 crore for the first quarter of the current fiscal, mainly driven by robust earnings in core business.
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PNB Housing Finance' self-employed customers, who have taken loan of Rs 50 lakh and above, can now opt to pay lower repayments initially and step it up gradually as income increases.
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The stock settled at Rs 890.60, reflecting a steep gain of 14.91 percent from the issue price on BSE. During the day, it soared 16.50 percent to Rs 902.95.
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The Rs 3,000-crore IPO received bids for 55,72,111 shares against the total issue size of 2,80,77,500 shares, data available with the NSE till 1700 hrs showed.
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PNB Housing Finance has received capital markets regulator Sebi's go ahead to raise Rs 2,500 crore through an initial public offering.
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PNB Housing Finance, which has set the ball rolling for a Rs 2,500-crore IPO, is looking to take its growth to the next level with a pan-India expansion to meet surging demand from tier-II and tier-III cities, a top company executive said.
PNB Housing Finance has raised Rs 500 crore by issuing bonds to World Bank arm IFC for funding its green residential projects.
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