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PNB Housing Finance surges on raising $200 million via ECB

PNB Housing Finance surges on raising $200 million via ECB

PNB Housing Finance is currently trading at Rs. 857.30, up by 4.40 points or 0.52% from its previous closing of Rs. 852.90 on the BSE.

The scrip opened at Rs. 853.00 and has touched a high and low of Rs. 868.85 and Rs. 853.00 respectively. So far 2103 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1598.45 on 26-Oct-2017 and a 52 week low of Rs. 847.00 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1,004.00 and Rs. 847.00 respectively. The current market cap of the company is Rs. 14283.06 crore.

The promoters holding in the company stood at 32.80%, while Institutions and Non-Institutions held 28.55% and 38.66% respectively.

PNB Housing Finance has raised $200 million (Rs 1,470 crore) through External Commercial Borrowing (ECB), it’s first under the automatic route of Reserve Bank of India (RBI). The funds will be used for normal business operations i.e. lending purpose. This year RBI has allowed housing finance companies to borrow through ECB under the automatic route.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.

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