PNB Housing Finance has received board approval to issue Non-Convertible Debentures (NCDs) worth up to Rs. 10,000 crore on a private placement basis. The Board of Directors convened on July 10, 2026, to consider the fund-raising proposal, and has greenlit the NCD issuance. The Board's recommendation is set to be presented to shareholders for approval at the ensuing Annual General Meeting.

Board Meeting and Approval

The meeting was convened pursuant to Regulation 29(1) and 50(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation regarding the meeting was submitted to the exchanges on July 06, 2026. The following table summarises the key details of the approved proposal:

PNB Housing Finance has allotted 50,000 Non-Convertible Debentures (NCDs) aggregating to ₹500 crore on July 09, 2026. The issuance carries a fixed coupon rate of 7.83% per annum, with the debentures set to mature on August 07, 2029. The secured instruments are rated and taxable, issued via private placement on the Electronic Book Provider platform of the National Stock Exchange of India Limited.

Key Details of the NCD Allotment

The following table summarises the key parameters of the NCD issuance:

The debentures have a face value of ₹1,00,000 each. Interest payments are scheduled annually on August 07, commencing from 2026 until maturity in 2029. The principal amount will be repaid in full at maturity. The debt instrument carries an exclusive charge on the specific book debts of the company with a minimum security coverage of 1 time.

In the event of a default in interest or principal repayment, the company will pay an additional interest of 2% per annum over the coupon rate for the defaulting period. The debentures will be listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Limited.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE572E01012/0de26b8797bb43ff.pdf