Mumbai. Punjab National Bank (PNB) will invest Rs 600 crore in PNB Housing Finance. This investment will be made with options other than preferential or rights issue. The bank said in a regulatory filing on Friday that it would use the amount when its affiliate PNB Housing Finance plans to raise capital.
PNB said, “The bank has decided to infuse up to Rs 600 crore in PNB Housing Finance Limited (PNBHFL). It is subject to regulatory approval as an associate of the bank through preferential issue / rights issue, etc. When PNBHFL decides whether to increase capital. ”
PNB has a 32.65 percent stake in the housing finance company run by the Center till June 30.
PNB Housing Finance shares were trading at Rs 207 on the Bombay Stock Exchange (BSE) at 1.09 pm, which was Rs 2.80 higher or 1.33 per cent lower than the previous close.
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