PNB Housing Finance to maintain strong linkages

PNB Housing Finance to maintain strong linkages
29/10/2016 , by , in ALLIED

Ratings firm Ind-Ra today said PNB Housing Finance Ltd’s “strong linkages” with its parent Punjab National Bank is likely to remain strong even after the reduced shareholding post the initial public offer.

PNBHFL is planning to raise Rs 3,000 crore through an IPO, the proceeds of which will be used to support its growth plans.

Ind-Ra expects the reduced shareholding will not materially alter the strong linkages between PNB and PNBHFL.

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