PNB Housing Finance's rights issue — an invitation to existing shareholders to purchase additional new shares in the company — opened for subscription on Thursday (April 13, 2023). The issue will close on April 27, 2023. PNB Housing Finance, a subsidiary company of Punjab National Bank (PNB) has declared the rights issue price at Rs 275 apiece. The rights issue will be for an amount of around Rs 2,500 crore.

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“This is further to the meeting of the board of directors of the Company (“Board”) dated March 9, 2022, where the issue of fully paid-up equity shares of the Company of the face value of ₹10 each (“Equity Shares”) was approved by way of a rights issue for an amount not exceeding Rs 2,500 crore (“Rights Issue”),” the filing read.

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Here are all the details of the PNB Housing Finance rights issue

PNB Housing Finance rights issue important date:

The rights issue opens today and will remain open till April 27, 2023.

PNB Housing Finance rights issue price:

The issue has been fixed at Rs 275 apiece.

PNB Housing Finance rights issue size:

The company aims to issue 90,681,828 PNB Housing Finance shares in this issue worth Rs 2,493.76 crore.

PNB Housing Finance rights issue ratio:

29 rights equity share(s) for every 54 fully paid-up equity shares held by an Eligible Equity Shareholder.

PNB Housing Finance rights issue Trading period for Renunciation of Rights Entitlements (REs):

The trading period for the Renunciation of Rights Entitlements is fixed from April 13, 2023, to April 24, 2023. The rights issue renunciation is the transfer of the rights entitlements by a shareholder not willing to accept the rights offer and wants to renounce the shares in favour of another person.

Rights Entitlements (REs) for Renunciation shall be settled on a T+1 Rolling Settlement basis.

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