Upper circuit stock: PNB Housing jumps 20 per cent on capital raise announcement
PNB Housing Finance Limited today announced that its board has approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to Carlyle Group Inc.
Pluto Investments, an affiliated entity of Carlyle Asia Partners has agreed to invest up to Rs 3,185 crore via a preferential allotment of equity shares & warrants, at a price of Rs 390 per share.
Reacting to this, the company’s stock today increased by 20 per cent and made an intraday high of Rs 525.20 per share. Besides, the stock of the company has increased by 183 per cent from its decline in May 2020.
According to BSE data, the stock traded at a P/E multiple of 7.96 and a price-to-book ratio of 0.86. The stock has a 52-week high and a 52-week low of Rs 525.20 and Rs 172.35, respectively.
At 3.05 pm today, the stock of the company was trading at Rs 525.20, up by 19.99 per cent on BSE.