PNB Housing Fin’s Rs 2,000 crore rights issue expected to be complete by December: Official
PNB will not be subscribing to the rights issue proportionate to its current holding in the company as the Reserve Bank of India (RBI) has allowed the bank to invest only up to Rs 500 crore in the rights issue. Consequently, the lender’s stake in the mortgage firm will come down below 30 per cent from the current level.
