PNB Housing Finance Appoints Two Independent Directors; Recommends NCD Issuance and AOA Alterations for AGM
PNB Housing Finance Limited has made key appointments to its Board of Directors and outlined significant proposals for shareholder consideration at its upcoming 38th Annual General Meeting (AGM). The company fixed the record date for determining dividend eligibility for the financial year 2025-26 and approved the appointment of two distinguished professionals as Additional Independent Directors.The Board meeting held on July 10, 2026, saw the approval of both Mr. Shreekant and Mr. Rajiv Kumar Singh as Additional Directors in the Independent Director category. Both appointments are effective immediately and carry a term of three years. The appointments were made following recommendations from the Nomination and Remuneration Committee.
The company also recommended two major proposals to its members for approval at the AGM: the alteration of the Articles of Association (AOA) and the issuance of Non-Convertible Debentures (NCDs).
Key Board Appointments Announced
Mr. Shreekant brings over 34 years of experience from the banking sector, including holding a top leadership position as Chief General Manager in SBI for more than five years. He previously headed the Real Estate and Housing vertical at SBI, where he was instrumental in driving housing business to reach INR 5 trillion AUM.Mr. Rajiv Kumar Singh is a Fellow Chartered Accountant and an IBBI-Registered Valuer. His experience spans nearly three decades across financial services, corporate restructuring, valuation, and risk management. He has served as an Independent Director on the boards of regulated financial institutions.
The details of the appointments are summarized below:
| Particulars | Mr. Shreekant | Mr. Rajiv Kumar Singh |
|---|---|---|
| Reason for Appointment | Additional Director (Independent Director Category) | Additional Director (Independent Director Category) |
| Date and Term | July 10, 2026; 3 years | July 10, 2026; 3 years |
| Disclosure of Relationships | Not related to any Director of the Company. | Not related to any Director of the Company. |
AGM Proposals and Future Financing Plans
In addition to the operational updates, the Board has presented proposals requiring shareholder approval. These include:- Articles of Association (AOA) Alteration: Proposed modifications to the AOA aim to remove obsolete provisions, align rules regarding share certificates and the common seal with the Companies Act, 2013, and rationalize provisions concerning shareholder nomination rights and Board composition.
- NCD Issuance: The company proposed the issuance of Non-Convertible Debentures (NCDs) aggregating up to INR 10,000 Crore on a private placement basis in one or more tranches.
The dividend record date has been set for July 31, 2026, subject to approval by the shareholders at the AGM.
PNBHOUSING Stock Price Movement
PNB Housing Finance Limited shares are edging higher to ₹1112.40 as of 1:48 PM, bolstered by the equity gaining 2.62% in live trading. The stock hits its 52-week high, driven by strong buying interest amid a volume of 469,418 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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