PNB Gilts Ltd

PNB Gilts Ltd Technicals

PNB Gilts Ltd Financials

PNB Gilts Ltd Shareholding Pattern

About PNB Gilts Ltd

PNB Gilts Limited is a leading primary dealer in the Government Securities Market. The Company undertakes more than 90% of their operations in Government Securities. The Company has been granted the License of NBFC by the Reserve Bank of India and working as a Standalone Primary Dealer. The Company's primary activities entail supporting government borrowing program via underwriting of government securities issuances and trade in a gamut of fixed income instruments such as Government securities, Treasury Bills, State Development Loans, Corporate Bonds, Interest Rate Swaps and various money market instruments such as Certificates of Deposits, Commercial Papers etc. The Company has dedicated trading desk managed by experienced professionals having strong research and market insights. The company is also providing custodian services to its constituents. The cCmpany is also a subsidiary of one of the largest Indian commercial banks Punjab National Bank. PNB Gilts Limited was incorporated ion the year 1996 as a wholly owned subsidiary of Punjab National Bank with an initial paid up capital of Rs 50 Crore. Reserve Bank of India introduced the system of Primary Dealers with a view to strengthen the institutional infrastructure of Government Securities market. Six entities were granted licenses of which the company was one among them. In the year 1998, the company received the certificate from RNI to carry on the business of a Non-Banking Finance Company. In a short period of th ...ree years, the company emerged as a frontrunner in the G-Secs market and established a formidable reputation for itself with a secondary market. The company continued their track record of profitability with Consistent track record of dividend payment. In July 2000, the company came with an IPO of Rs 3.5 crore shares at an offer price of Rs 30 per share aggregating Rs 105 crore. This increased the paid up capital of the company to Rs 135.01 crore and reduced the holding of Punjab National Bank to 74.07%. In December 2002, the company diversified their activities in merchant banking and got license from SEBI. During 2003-04, they initiated select merchant banking like Placement of bonds and Commercial papers. Also, they forayed into fee-based activities through mutual fund distribution. During the year 2004-05, the company forayed into newer fee based activities such as project appraisal, loan syndication, feasibility studies and corporate advisory services. During the year 2005-06, they undertook several marketing initiatives to further develop non-wholesale clientele. Also, they conducted seminars, workshops and lectures for cooperative banks, RRBs and PFs to create awareness about government securities market During the year 2006-07, the company also started trading operations in equity/ equity derivatives in line with central bank's permission to Primary Dealers to diversify into newer areas. During the year 2009-10, the company discontinued their Merchant Banking activities with effect from March 15, 2010. They also closed their Kolkata & Bangalore branches with effect from March 30, 2010 and the public/ clients of these regions will be served from HO at Delhi. During FY 2019-20, the Company received the highest credit ratings from credit rating agencies - ICRA and CRISL as under - a. ICRA A1+' assigned to Rs. 500 crore Commercial Paper programme of the Company. CRISIL A1+' assigned to Rs. 500 crore (enhanced from Rs. 250 crore from January 30, 2019) Commercial Paper Programme of the Company. The Company issued commercial papers and as on March 31, 2020, outstanding value of commercial papers of the Company was Rs. 500 crore. During the year 2022, the Company judiciously utilized different sources of borrowings viz. Call Money, TREP, Repo, LAF, etc. for active fund management. Active liquidity management through Open Market Operations and Variable Rate Reverse Repo (VRRR) auctions added further complexity, requiring banks and dealers to adeptly navigate transitions between liquidity surpluses and deficits. These dynamics contributed to substantial fluctuations in the Indian bond market, particularly the 10-year benchmark G-Sec, which remained sensitive to both domestic and global triggers throughout the year 2025.

Similar Stocks