The rights issue of PNB Housing Finance opened today. Shares fell more than 5%

Why is the share price of PNB Housing Finance falling?

why on pnb housing finance Share price is falling after the announcement of rights issue, Ravi Singhal, CEO, GCL Broking said, “The issue has been offered at a huge discount and the stock is looking weak on the chart pattern. Hence, after the announcement of rights issue Profit-booking has begun. This also indicates less appetite among stock market investors with regard to PNB Housing Finance rights issue. Branches of financial stock support it 425 and has now been put on immediate support 370 each level.”

Since PNB Housing Finance share is witnessing selloff on the issue opening date, here we list the important PNB Housing Finance Rights Issue Details,

1]PNB Housing Finance Rights issue date: The rights issue opened on April 13, 2023 and will remain open till April 27, 2023.

2]PNB Housing Finance Rights issue price: The issue has been announced at a fixed price of 275 each.

3]PNB Housing Finance Rights Issue Ratio: 29 Rights Equity Shares for every 54 fully paid-up Equity Shares held on the record date i.e. April 5, 2023.

4]PNB Housing Finance Rights issue size: The company aims to issue 90,681,828 PNB Housing Finance shares in this issue 2,493.76 crores.

5]PNB Housing Finance Rights Issue Listing: The issue has been proposed for listing on both NSE and BSE And the listing date is expected to be on 17th May 2023.

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