PNB Housing Finance’s Rs. 3000 crore IPO (Initial Public Offering) will hit the market on 25th October, 2016. The price band is fixed at Rs 750-775 per share of face value of Rs 10. PNB Housing Finance IPO will open on 25th October, 2016 and close on 27th October, 2016.
PNB Housing was the fifth largest housing finance company (HFC) in India by its portfolio size as of 30th September, 2015. This issue will reserve 2.5 lakh equity shares for subscription by eligible employees. And also employees also get shares at discount of Rs. 75 per share to the issue price of the share.
PNB Housing Finance Issue Details:
- Issue Open: Oct 25, 2016 – Oct 27, 2016
- Issue Type: Book Built Issue IPO
- Issue Size: [.] Equity Shares of Rs 10 aggregating up to Rs 3,000.00 Cr
- Face Value: Rs 10 Per Equity Share
- Issue Price Band: Rs. 750 – Rs. 775 Per Equity Share
- Market Bid Lot: 19 Shares
- Minimum Order Quantity: 19 Shares
- Listing At: BSE, NSE
Objects of the Issue:
- Augment the capital base to meet their future capital requirements
- General corporate purpose
- Enhance visibility and brand name among existing and potential custom
Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, JP Morgan India and Morgan Stanley India Company are the global coordinators and book running lead managers to this issue. Yesterday, 18th October, 2016, shares of Punjab National Bank closed at Rs. 140.65, increase 2.93% on BSE.
Today, 19th October, 2016, the company held a meeting to discuss about its upcoming IPO and its future plans.
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