SME Times News Bureau | 22 Feb, 2021
Punjab National Bank will not take part in the capital raising plans of PNB Housing Finance.
Last
August, the Board of PNB Housing Finance approved raising Rs 1,800
crore of equity capital through preferential issue or rights issue.
Referring
to the decision, PNB Housing, in a regulatory filing, said that it will
continue to pursue with the proposed capital raising plan.
"Punjab
National Bank has communicated that it shall not be participating in
the capital raise plans of the company. However, the company will
continue to pursue with the proposed capital raising plan through
permitted modes," the filing said.
