PNB Housing Finance Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 21, 2025
PNBHOUSING · price
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Awaiting price reaction for this filing.
PNB Housing Finance held its 37th AGM on August 21, 2025, via video conferencing, with 241 members in attendance. Chairman Nilesh S Vikamsey presided and MD & CEO Girish Kousgi was present along with several independent directors and the CFO. Nine resolutions were transacted, including adoption of FY25 financial statements, declaration of dividend, re-appointment of Dilip Kumar Jain as Director, and appointment of new Secretarial Auditors. Two special resolutions were also passed: approval to raise up to Rs. 10,000 Crore through Non-Convertible Debentures (NCDs) or bonds via private placement, and alteration of the Object Clause of the Memorandum of Association. Material related party transactions with parent Punjab National Bank and with PNB Gilts Limited were also approved. E-voting was open from August 17–20, with a 30-minute window after the meeting for those who hadn't voted remotely. The detailed voting results and scrutinizer's report will be filed separately with the stock exchanges.
The Rs. 10,000 Crore private placement of NCDs/bonds signals a major borrowing push, likely to fund growth in the housing finance business, which could dilute existing debt holders but support loan book expansion. The MOA amendment suggests the company is preparing to enter or broaden business lines. Dividend declaration and PNB-related transactions reinforce continued support from the parent bank. Shareholders should watch for the e-voting results and any disclosures on the use of bond proceeds.