PNB housing Finance on Wednesday said that its board of directors have approved a proposal to raise equity capital up to ₹1,800 crore through preferential issue or a rights issue.

This capital raising is subject to shareholder and regulatory approvals, said a filing by the housing finance lender to the stock exchanges.

Recently, Punjab National Bank(PNB)—which held 32.65 per cent stake in PNB Housing Finance as on March 31, 2020–had said it would infuse ₹600 crore in the Housing Finance lender through preferential issue or rights issue.