The board of directors of PNB Housing Finance (PNBHFL) on Wednesday approved to raise equity capital aggregating upto Rs 1,800 crore through preferential issue/rights issue, the company informed in a BSE filing.
The company also appointed Neeraj Vyas as an additional director in the category of non- executive, non-independent director with effect from September 1, 2020, the company said in a separate regulatory filing. He had recently step down from the role of interim MD & CEO of the company.
Vyas was replaced by Hardayal Prasad as company’s new managing director and chief executive officer.
In July 2020, PNBHFL had said that it will seek shareholders’ approval next month to raise up to Rs 45,000 crore through debt securities. During the same month, it had reported 10 per cent decline in consolidated net profit to Rs 257.2 crore in the first quarter of FY21.
Punjab National Bank (PNB) had also said in July that it will infuse Rs 600 crore in PNB Housing Finance through preferential issue or rights issue among other options as and when PNBHFL decides to raise capital.
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