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PNB Housing Finance launches IPO, garners Rs 894 crore from anchor investors

PNB Housing Finance's Rs 3,000 Crore IPO Which Got Lauched On Tuesday Has Garnered Over Rs 894 Crore From Share Allotment To Anchor Investors.

PTI | Updated on: 25 Oct 2016, 03:19:37 PM

New Delhi:

PNB Housing Finance's Rs 3,000 crore IPO which got launched on Tuesday has garnered over Rs 894 crore from share allotment to anchor investors.     

The IPO received bids for 22,07,705 equity shares as against 2,80,77,500 scrips on offer, garnering a subscription of 8 per cent till 1230 hours, as per the update available with the stock exchanges.

Promoted by Punjab National Bank, the company is seeking to raise Rs 3,000 crore through the initial public offer (IPO). The issue opened for subscription today, and closes on October 27.

The shares were allotted to the anchor investors at Rs 775 per share, the upper end of the Rs 750 to Rs 775 per share price band for the IPO.
Among the anchor investors are SBI Life Insurance, HDFC, Axis MF, IDFC, Franklin Templeton MF and Nomura.

"Under Anchor Investors (AIs) portion in the public issueof PNB Housing Finance, 11,537,902 equity shares have beensubscribed by 45 AIs at Rs 775 per equity share," BSE said. The firm would be using the proceeds from the share sale mainly towards augmenting its capital base.

Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the issue.

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First Published : 25 Oct 2016, 01:49:00 PM

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