Mumbai, July 7 -- The proposal, if approved by the board, will be recommended to shareholders for approval at the company's ensuing Annual General Meeting (AGM).

The company plans to raise the funds through the issuance of non-convertible debentures on a private placement basis, subject to the necessary board and shareholder approvals.

PNB Housing Finance is promoted by Punjab National Bank and is a registered housing finance company with National Housing Bank (NHB). The company's asset base comprises primarily of retail loans and corporate loans. The retail business focuses on organized mass housing segment financing for acquisition or construction of houses. In addition, it also provides loan against properties and loans for purchase ...