PNB Housing Finance rights issue record date today. Share nosedives 18%

PNB Housing Finance rights issue opening date has been fixed on 13th April 2023 and it will remain open till 27th April 2023. The subsidiary company of Punjab national Bank (PNB) has declared PNB Housing Finance rights issue price at 275 apiece whereas PNB Housing Finance share price today is around 475 apiece, near 12 per cent lower from its Monday close on NSE. 

PNB Housing Finance share price today opened downside and went on to hit intraday low of 445.15 per share, near 18 per cent lower from its Monday close of around 541 apiece. The financial stock is in focus today as PNB Housing Finance rights issue record date is 5th April 2023 i.e. today.

On why PNB Housing Finance share is falling in rights issue record date, Ravi Singhal, CEO at GCL Broking said, “The issue has been offered at deep discount and the stock is looking weak on chart pattern. Hence, profit-booking is taking place on rights issue record date that also signals low appetite among stock market investors in regard to PNB Housing Finance rights issue. The financial stock has immediate support placed at 425 and on breakage of this support the stock may go up to 370 per share levels in near term.”

As the financial stock is under sell off heat on rights issue record date, here we list out important PNB Housing Finance rights issue details:

1] PNB Housing Finance rights issue date: The rights issue will open on 13th April 2023 and it will remain open till 27th April 2023.

2] PNB Housing Finance rights issue price: The issue has been declared at fixed price of 275 apiece.

3] PNB Housing Finance rights issue record date: The record date for finalising eligible shareholders for issuance of rights has been fixed on 5th April 2023.

4] PNB Housing Finance rights issue ratio: 29 rights equity share(s) for every 54 fully paid-up equity shares held on record date i.e. 5th April 2023.

5] PNB Housing Finance rights issue size: The company aims to issue 90,681,828 PNB Housing Finance shares in this issue worth 2,493.76 crore.

6] PNB Housing Finance rights issue listing: The issue is proposed for listing on both NSE and BSE and date of listing is expected on 17th May 2023.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.


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