PNB Housing Finance is set to hit capital markets on October 25 with an initial public offering (IPO) to raise upto Rs 3,000 crore.
PNB Housing Finance is set to hit capital markets on October 25 with an initial public offering (IPO) to raise up to Rs 3,000 crore. The housing finance company has fixed a price band of Rs 750-775 per equity share of face value of Rs 10. The issue will close on September 27. Kotak Mahindra Bank, BofA Merrill Lynch, JM Financial, JP Morgan and Morgan Stanely are the global coordinators and book running lead managers for the issue.
PNB Housing Finance had filed IPO papers with Sebi in July. The markets regulator issued its final ‘observations’ on October 6 on the draft offer documents, which is necessary for any company to launch the public offer.
According to the Draft Red Herring Prospectus (DRHP), the proceeds of the issue will be used to augment capital base to meet future capital requirements and for general corporate purpose.
Shares of the company are proposed to be listed on BSE and NSE.