Friday, 4 November 2016

PNB Housing Finance to make stock market debut on Monday : 04 Nov 2016

PNB Housing Finance, which recently closed its initial public offer (IPO), will make its stock market debut on Monday, reported PTI. The Rs 3,000-crore IPO was oversubscribed 29.55 times during October 25-27. The qualified institutional buyers (QIBs) category was oversubscribed 37.33 times and that of non-institutional investors 86.17 times. Retail investors portion was also oversubscribed 1.35 times. The company had fixed the price band at Rs 750-775 per share for the offer. Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, J P Morgan and Morgan Stanley were the global coordinators and book running lead managers for the issue. This was the 23rd company to hit the market with its IPO so far this year.

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