PNB Housing Finance plans to go for listing this fiscal
19/05/2016 01:12
PNB Housing Finance will go public this fiscal as part of the parent Punjab National Bank's efforts to monetise its investment, reported PTI. "In PNB Housing Finance we have 51 per cent. We would like to monetise our investment by listing the company," PNB Managing Director Usha Ananthasubramanian told reporters. The housing finance company could go public during the current fiscal, she said, adding this is the ideal time and the bank would like to cash in on the opportunity. Even after diluting shares in favour of public, she said, the bank would like to retain majority ownership. Besides PNB, remaining 49 per cent is owned by Carlyle Group, a global investment firm. As part of the capital raising plan, the bank plans to sell its stake from non-core business. PNB Housing Finance reported a 66 per cent rise in net profit at Rs 326 crore for the fiscal ended March as against Rs 196 crore in the previous fiscal.
19/05/2016 01:12
PNB Housing Finance will go public this fiscal as part of the parent Punjab National Bank's efforts to monetise its investment, reported PTI. "In PNB Housing Finance we have 51 per cent. We would like to monetise our investment by listing the company," PNB Managing Director Usha Ananthasubramanian told reporters. The housing finance company could go public during the current fiscal, she said, adding this is the ideal time and the bank would like to cash in on the opportunity. Even after diluting shares in favour of public, she said, the bank would like to retain majority ownership. Besides PNB, remaining 49 per cent is owned by Carlyle Group, a global investment firm. As part of the capital raising plan, the bank plans to sell its stake from non-core business. PNB Housing Finance reported a 66 per cent rise in net profit at Rs 326 crore for the fiscal ended March as against Rs 196 crore in the previous fiscal.
