In today’s briefing:
- PNB Housing Finance Rights Issue – Finally Closing in on the Capital Raising
- Hindustan Aeronautics (HNAL IN) Offer for Sale: Buy Ahead of Potential MSCI Inclusion
PNB Housing Finance Rights Issue – Finally Closing in on the Capital Raising
- PNB Housing Finance Ltd (PNBHOUSI IN) (PHBHF) aims to raise up to US$300m via a rights issue in order to boost its capital base.
- PNBHF is the housing finance arm of Punjab National Bank and is partly owned by Carlyle, with investments from General Atlantic as well.
- In this note, we will talk about the rights issue and other deal dynamics.
Hindustan Aeronautics (HNAL IN) Offer for Sale: Buy Ahead of Potential MSCI Inclusion
- The Government of India is looking to sell up to 3.5% of Hindustan Aeronautics Ltd (HNAL) to meet the minimum public shareholding and will raise US$350m at the floor price.
- Hindustan Aeronautics Ltd (HNAL IN) is a potential inclusion to the MSCI India Index at the May QCIR and there will be buyers at the placement.
- Hindustan Aeronautics Ltd (HNAL IN) trades cheaper than its peers and there could be a move higher over the next few weeks.
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