The bank said it will infuse the proposed amount in PNB Housing Finance (PNBHFL) through preferential issue/rights issue etc. subject to regulatory approval as and when PNBHFL decides to raise capital.
Shares of Punjab National Bank were trading 0.47% lower at Rs 31.6. Shares of PNB Housing Finance were trading 1.19% lower at Rs 207.30.
Earlier last week, PNB Housing Finance's consolidated net profit slipped 9.59% to Rs 257.18 crore on 16.17% decline in total revenue from operations to Rs 1,870.06 crore in Q1 June 2020 over Q1 June 2019.