"We expect to manage these better from this month onwards even as we have managed to pull back some NPAs. We have pulled back about Rs 80 crore of NPA in July itself," said Hardayal Prasad, managing director and CEO, PNB Housing Finance
Read more about PNB Housing: Fundamentals need to catch up with the stock now, say analysts on Business Standard. The fact that the capital raising plan was nearly double than what the Street had expected (Rs 1,800 crore) has helped the counter jump a massive 279 per cent from its 52-week low level
PNB Housing Finance will raise Rs 4,000 crore from The Carlyle Group.
Shares of the country s leading mortgage lender - PNB Housing Finance - were locked in 20 per cent upper circuit for second session in a row on Tuesday at fresh 52-week high of Rs 630.20. In the last two trading sessions the stock has gained 44 per cent after the company informed exchanges on Monday that its board has approved raising Rs 4,000 crore from the entities of US-based The Carlyle Group. Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, L.P. and Carlyle Asia Partners V, L.P. (together, Carlyle ) has agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share. Existing shareholders of the company, funds managed by Ares SSG and General Atlantic, are also participating in the capital raise. PNB will continue to be the promoter and a key stakeholder in the company, PNB Housing Finance said in a press rele