INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of PNB Housing Finance jumped nearly 7 per cent in Friday’s trade amid reports that the company is looking to raise
another $250-300 million through external commercial borrowing by November amid market turmoil and fear of a further squeeze in the
The stock rose 6.7 per cent to hit a high of Rs 925 on BSE.
This will be the second external borrowing by the Delhi-based home loan lender
in as many months, although the company maintained that it has not faced any tightness in cash flow, ET reported.
It had mobilised $200
million from overseas investors only last week
The company is also looking to securitise home loan pools worth Rs 1,000-1,500 crore which would help it free capital and lend more
“We have received commitments for $300 million external loans from overseas branches of local banks
We will utilise it partly or fully according to our requirement,” PNB Housing’s chief financial officer Kapish Jain said.
