Latest news with #ManagementCommittee
Mint
20-05-2025
- Business
- Mint
PNB Housing Finance completes ₹400 crore fundraise via allotment of NCDs
PNB Housing Finance Limited announced on Tuesday, 20 May 2025, that the company's board of directors has approved the allotment of redeemable Non-Convertible Debt (NCDs) amounting to ₹ 400 crore, according to an exchange filing. According to the filing data, the company approved the allotment of 40,000 listed, secured, taxable NCDs with a face value of ₹ 1 lakh apiece. 'We hereby inform that the Management Committee for allotment of NCDs, as authorized by the Board of Directors of the Company, has today i.e. May 20, 2025, approved allotment of 40,000 Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures of the face value of ₹ 1,00,000 (Rupees One Lakh) each, aggregating to ₹ 400 Crore (Rupees Four Hundred Crore Only), through private placement,' said the company in the BSE filing. The tenure of the NCDs is going to be five years from the date of allotment, i.e., 20 May 2025, to 20 May 2030. The NCDs are offering a coupon rate of 7.53 per cent on the principal. The filing also highlighted that in case of a default in payment of interest and/or redemption, the principal amount of the NCDs on the respective due date will be increased by an additional 2 per cent p.a., and interest will be charged for the same. PNB Housing Finance shares closed 1.30 per cent lower at ₹ 1,040.80 after Tuesday's stock market session, compared to ₹ 1,054.50 at the previous market close. The company announced its NCD allotment in the afternoon session of the Indian stock market on 20 May 2025. PNB Housing Finance shares have given stock market investors more than 640 per cent returns in the last five years and more than 40 per cent gains in the last one-year period. On a year-to-date basis, the shares are trading 14.8 per cent higher and 3.55 per cent up in the last one-month period. The company's market capitalisation (M-Cap) was at ₹ 27,053 crore as of the stock market session on 20 May 2025. Shares of the housing finance company hit their 52-week high levels at ₹ 1,201.45 on 13 September 2024, while the 52-week low level was at ₹ 615.65 on 4 June 2024, according to BSE data.
Mint
20-05-2025
- Business
- Mint
PNB Housing Finance completes ₹400 crore fundraise via allotment of NCDs
PNB Housing Finance Limited announced on Tuesday, 20 May 2025, that the company's board of directors has approved the allotment of redeemable Non-Convertible Debt (NCDs) amounting to ₹ 400 crore, according to an exchange filing. According to the filing data, the company approved the allotment of 40,000 listed, secured, taxable NCDs with a face value of ₹ 1 lakh apiece. 'We hereby inform that the Management Committee for allotment of NCDs, as authorized by the Board of Directors of the Company, has today i.e. May 20, 2025, approved allotment of 40,000 Listed, Secured, Rated, Taxable, Redeemable Non-Convertible Debentures of the face value of ₹ 1,00,000 (Rupees One Lakh) each, aggregating to ₹ 400 Crore (Rupees Four Hundred Crore Only), through private placement,' said the company in the BSE filing. The tenure of the NCDs is going to be five years from the date of allotment, i.e., 20 May 2025, to 20 May 2030. The NCDs are offering a coupon rate of 7.53 per cent on the principal. The filing also highlighted that in case of a default in payment of interest and/or redemption, the principal amount of the NCDs on the respective due date will be increased by an additional 2 per cent p.a., and interest will be charged for the same. PNB Housing Finance shares closed 1.30 per cent lower at ₹ 1,040.80 after Tuesday's stock market session, compared to ₹ 1,054.50 at the previous market close. The company announced its NCD allotment in the afternoon session of the Indian stock market on 20 May 2025. PNB Housing Finance shares have given stock market investors more than 640 per cent returns in the last five years and more than 40 per cent gains in the last one-year period. On a year-to-date basis, the shares are trading 14.8 per cent higher and 3.55 per cent up in the last one-month period. The company's market capitalisation (M-Cap) was at ₹ 27,053 crore as of the stock market session on 20 May 2025. Shares of the housing finance company hit their 52-week high levels at ₹ 1,201.45 on 13 September 2024, while the 52-week low level was at ₹ 615.65 on 4 June 2024, according to BSE data. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Zawya
19-03-2025
- Business
- Zawya
Food Security: the Members of the Management Committee of the Economic Community of West African States (ECOWAS) Regional Food Security Reserve Hold their Annual Meeting in Abuja, Nigeria
The third meeting of the Management Committee of the Economic Community of West African States (ECOWAS) Regional Food Security Reserve opens this Tuesday 18 March 2025 in Abuja, Nigeria. The two-day meeting, which will end on Wednesday 19 March 2025, will take stock of the activities carried out by the Food Reserve since the last meeting in 2023 and plan interventions for 2025, in a context marked by a growing food crisis in West Africa and regional and global geopolitical upheaval. Food security in West Africa and the Sahel continues to deteriorate due to persistent conflict, economic instability and the effects of climate change. In December 2024, almost 34.7 million people needed immediate food and nutrition assistance, a figure that could rise to 47 million by the June-August 2025 lean season if urgent affirmative measures are not taken. Malnutrition also remains a major concern in several countries in the region. Faced with this situation, ECOWAS, in collaboration with Member States, Chad and Mauritania, is working to strengthen rapid and sustainable response mechanisms through the Regional Food Security Reserve. The aim of the Reserve is to complement the efforts of Member States to provide rapid and sustainable food assistance to affected countries, promote regional solidarity and contribute to food sovereignty and economic integration in West Africa. The Management Committee, with its Executive Board, is the centrepiece of the Reserve's governance. It decides on all the operations relating to its functioning: purchases, storage, technical rotations and interventions in response to a crisis. The main purpose of the 3rd meeting of the Management Committee is to present to the Committee members a detailed report on the operations carried out since the last meeting in March 2023 and to submit for their approval the operations planned for 2025 (purchases, interventions, technical rotations, replenishment, etc.). During the meeting, members will also discuss and validate the resource mobilisation plan to support Member States in their responses to food, nutrition and pastoral crises. Furthermore, drawing lessons from the ten years of implementation of the regional food storage strategy through comparing the theory with the practice of its implementation on the ground, the Management Committee's discussions will launch the process of revising the said strategy and the operating rules of the Regional Reserve with the aim of strengthening the coordination and effectiveness of collective action to better meet the new challenges linked to the changing socio-political context at both regional and international level. Speaking of the challenges facing the region, the Permanent Secretary, Dr Marcus Ogunbiyi who opened the meeting on behalf of the Federal Minister for Agriculture and Food Security, Senator Abubakar Kyari CON., drew participants' attention on the growing need for sovereign financing of West African agriculture in general, and of food crisis response mechanisms in particular. Such instruments need to be adapted to the realities of Member States. Following Dr Ogunbiyi, the Executive Director of the Regional Agency for Agriculture and Food (RAAF), Mr Mohamed Zongo, speaking on behalf of Mrs Massandjé TOURE-LITSE, ECOWAS Commissioner for Economic Affairs and Agriculture, recalled that since its creation, the Food Reserve has made significant progress. It currently has a projected capital of more than 74,000 tonnes of food, stored in several areas of the region, which can be deployed rapidly in case of need. Food security stocks are emerging as key social protection tools, used at different levels – local, national, regional – to respond effectively to food crises. The Management Committee meeting brings together representatives from ECOWAS Member States, Chad, Mauritania, regional institutions (ECOWAS, UEMOA, CILSS), producer organisations, civil society, the private sector and technical and financial partners. It falls within ECOWAS's ongoing efforts to build a more resilient regional food system, capable of responding effectively to current and future shocks. The expected results will be used to guide priority actions for 2025, in a spirit of solidarity and regional integration. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Yahoo
27-02-2025
- Business
- Yahoo
Richard R. Verma rejoins Mastercard to oversee Law, Government Affairs & Policy and Franchise
Tim Murphy named Vice Chair PURCHASE, N.Y., February 26, 2025--(BUSINESS WIRE)--Mastercard today appointed Tim Murphy as Vice Chair. Murphy, who has served as Chief Administrative Officer since 2021, will build on his career with the company to oversee a range of strategically important initiatives, including the company's relationships with global regulators. As Murphy is elevated to this new role, Richard R. Verma returns to Mastercard as Chief Administrative Officer to oversee the company's Law, Government Affairs & Policy, Franchise, Corporate Security, Inclusion & Belonging and Transformation, Risk & Operations (TRO) functions. He will also join the Executive Leadership Team and Management Committee. Both positions are effective May 1 and will report to Michael Miebach, Mastercard's CEO. "Tim has played an instrumental role at Mastercard for more than two decades. He has guided and counseled so many of our teams as we evolved many parts of the business – from advancing our legal and regulatory affairs to shaping our inclusion strategy. In each role, Tim has been instrumental in embedding our values into every aspect of our business," said Miebach. Murphy originally joined Mastercard in 2000 and thereafter became one of the lead lawyers for the company's initial public offering. Throughout his tenure, he has blended business and legal insights to accelerate the company's performance and growth, serving at different times as President of the U.S. region, Chief Product Officer, General Counsel and Chief Administrative Officer, in addition to several other roles. "I am delighted to welcome Rich back to Mastercard. He has had a unique view on the topics impacting people and economies across the globe. Our business and our customers will benefit from his extensive experience and leadership in many ways," added Miebach. Verma most recently served as the U.S. Deputy Secretary of State for Management and Resources. In this role, he was Chief Operating Officer of the department, leading the department's efforts on modernization, workforce and strategic issues. Prior to his earlier tenure at Mastercard as the Chief Legal Officer and Head of Global Public Policy (2020-2023), Verma served as the U.S. Ambassador to India, Assistant Secretary of State for Legislative Affairs, and National Security Advisor to the Senate Majority Leader. He is a veteran of the U.S. Air Force, and the recipient of numerous military awards and civilian decorations. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. View source version on Contacts Investor Relations: Jud Staniar, 914-249-4565Communications: Seth Eisen, 914-249-3153
