PNB Housing Finance jumps 16.1% on debut after $450 million IPO

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Mumbai | Updated: November 7, 2016 10:36:33 AM

Shares in India's PNB Housing Finance Ltd rose as much as 16.1 percent on their market debut on Monday after the company's $450 million initial public offering.

pnb-759-lPNB Housing Finance?s IPO was India?s second-largest this year.

Shares in India’s PNB Housing Finance Ltd rose as much as 16.1 percent on their market debut on Monday after the company’s $450 million initial public offering.

The stock opened at 860 rupees on the National Stock Exchange, and rose to a high of 900 rupees as of 0434 GMT, compared with the IPO issue price of 775 rupees.

PNB Housing Finance’s IPO was India’s second-largest this year.

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