PNB Housing Finance shares jumped more than 5% after the company announced a major leadership change following its Board meeting on December 12, 2025. The highlight of the update is the appointment of Ajai Kumar Shukla as the new Managing Director and Chief Executive Officer.
His five-year term will begin on December 18, 2025, subject to shareholder approval, and the company has clarified that all regulatory clearances are in place. It also confirmed that Shukla is not debarred by SEBI or any other authority, clearing the way for his appointment.
Shukla, now 52, steps into the role with a solid career spanning over thirty years in the housing and mortgage finance space. He has spent the last sixteen years with Tata Capital Housing Finance Limited, where he most recently led the business as Chief Business Officer. His experience cuts across credit, risk, valuation, digital transformation, and the affordable housing segment. Before joining Tata Capital, he worked with ICICI Bank for more than seven years, and he began his professional journey at LIC Housing Finance, gaining valuable early-stage exposure to the industry.
In addition to this leadership change, the company has also formalised the role of Vipin Malhotra, who heads Internal Audit, as the designated Internal Auditor effective November 30, 2025.
As of 2:10 PM (IST), PNB Housing shares were trading 4.87% higher at ₹943.95, reflecting strong market sentiment around the leadership update.
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