PNB scam: How Nirav Modi, one of India's richest men executed a $2 bn fraud 

PNB Housing Finance (PNB HFL) is planning to raise $400 million through its maiden issue of masala bonds.

The money will be utilised to finance retail buyers/developers of affordable housing as well as developers of green buildings.

IFC proposes to invest upto $150 million in PNB HFL by subscribing to the company's 5-year Masala Bonds.PNB HFL will allocate another $400 mn from other resources of funds to create a pool of up to $800 million for affordable/green housing segments, said IFC.

PNB HFL is the fifth largest HFC (by loan assets) and second largest HFC (by deposits) in India with asset under management (AUM) of $9 billion as of December 2017.

PNB HFL, a registered HFC with NHB, is a listed entity currently, with PNB holding 32.96 per cent stake in the company while 37.3 per cent is held by Quality Investment Holdings (QIH) and the rest by public shareholders.


Click Here To know More – PNB Scam

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