PNB Housing Fin to seek shareholders' approval to raise Rs 12,000 cr in debt

PNB Housing Finance on Thursday said it will seek shareholders' approval next month to raise Rs 12,000 crore in debt capital.

The housing finance company promoted by the city-headquartered state-owned lender Punjab National Bank (PNB) is scheduled to convene its annual general meeting (AGM) next month on July 26.

''Shareholders' approval is being sought in the 34th AGM to borrow funds and issue of non-convertible debentures (NCDs) on a private placement basis aggregating to Rs 12,000 crore in one or more tranches,'' PNB Housing Finance said in a regulatory filing.

Shares of the company traded 0.33 percent up at Rs 333.20 apiece on BSE.