The share price of PNB Housing Finance jumped dramatically on the National Stock Exchange (NSE) today, reaching more than 4% today.
The share price increased after the firm stated that its board of directors will meet on September 9 to consider and approve the issuance of Non-Convertible Debentures of up to Rs 2,500 crore on a private placement basis in tranches over the next six months.
As per the exchange filing, the company shared, “We wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, September 09, 2024, inter alia, to consider and approve issuance of Non – Convertible Debentures up to Rs 2,500 crore (Rupees Two Thousand Five Hundred Crore Only) on Private Placement Basis, in tranches over the next six months.”
As of 10:25 am, PNB Housing Finance shares were trading 3.62% higher at Rs 1,090.95 on the NSE.