MUMBAI: PNB Housing Finance on Monday said its board has approved raising up to Rs4,000 crore in capital led by the Carlyle group. for the purchase of up to 26% equity shares of PNB Housing Finance from public shareholders," a company statement said. PNB Housing Finance will use the funds to augment capital adequacy, reduce gearing and accelerate growth with a focus on retail housing including self-employed and affordable housing loans. Last week PNB Housing Finance said it has executed a revised trademark agreement with Punjab National Bank (PNB). In case of such termination, PNB Housing shall be allowed a transition period of up to 24 months.

Source: Mint May 31, 2021 06:45 UTC