PNB Housing Finance, a subsidiary of state-owned Punjab National Bank (PNB), has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for the initial public offering (IPO). According to the DRHP, PNB Housing Finance plans to raise Rs 2,500 crore though the share sale.
The company has appointed five investment banks to manage the IPO. While Kotak Investment Banking is the lead manager, BoFA Merril Lynch, JM Financial, JP Morgan, Morgan Stanley are the part of the book running managers for the issue.
According to DRHP data, total revenue of PNB Housing Finance stood at Rs 2,699.5 crore for FY16. The net profit for FY16 was `327.5 crore. The earnings per share (EPS) was Rs 27.58. The housing finance company has reported Rs 78.57 crore in provisions during FY16.
CY16 has so far been a positive year for primary markets. In the current calendar, 12 companies have tapped primary markets to raise Rs 8,182.57 crore, Prime Database showed. Some of the companies listed during the year include Ujjivan and Equitas Holdings.
