By Accommodation Times Bureau
PNB Housing Finance via external commercial borrowing window it proposes to raise about Rs 6,500 crore to business expansion, it said.
The PNB Housing Finance in a regulatory filing to the BSE it said, the board in its meeting has authorised to raise the funds through external commercial borrowings for not exceeding USD 1 billion.
The company provides housing loans to individuals and corporate bodies for purchase, construction, repair and upgradation of houses. It also provides loans for commercial space, loan against property and loan for the purchase of residential plots.
With the asset under management of Rs 62,252 crore as on March 31, it claims to be the fifth largest housing finance company.
PNB Housing Finance Limited (PNB Housing) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988. PNB Housing is promoted by Punjab National Bank (PNB). The Company came out with a public issue of equity shares in November 2016. Its equity shares are listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with effect from 7th November 2016.
With over two decades of specialised experience in housing finance, PNB Housing has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly.