PNB Housing Finance raises ₹500 crore via NCD private placement

What's the deal? PNB Housing Finance has raised ₹500 crore by allotting 50,000 non-convertible debentures (NCDs) with a face value of ₹1,00,000 each. The NCDs are listed, secured, rated, taxable, and redeemable.

The allotment was made through private placement via the Electronic Book Provider (EBP) platform of the National Stock Exchange (NSE).

The signal: PNB Housing Finance, classified as a mature-stage company on Dealroom, is tapping debt markets at a time when Indian housing finance firms are under pressure to secure competitively priced capital to sustain loan book growth. The ₹500 crore NCD raise via private placement suggests continued institutional appetite for secured housing finance paper, even as rising benchmark rates push borrowing costs higher across the sector.

Read more: Balaji Equities

Image: Harshvardhansonkar, CC BY-SA 3.0, via Wikimedia Commons.