PNB Housing IPO Subscribed 57% On Day 2
The IPO attracted over 3 lakh applications on the second day.
PNB Housing Finance's IPO was subscribed 57 percent on the second day of the three-day bidding offer on Wednesday.
The Rs 3,000-crore IPO received bids for 1,61,36,928 shares against the total issue size of 2,80,77,500 shares, as per data available with the NSE till 5:00 PM.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 92 percent, while that of non institutional investors was subscribed 14 percent. Retail investors category received 57 percent subscription.
The IPO attracted over 3 lakh applications on the second day.
PNB Housing Finance has raised over Rs 894 crore by allotting shares to anchor investors.
Promoted by Punjab National Bank, the company is seeking to raise Rs 3,000 crore through the (IPO). The issue is scheduled to close tomorrow. The company has fixed the price band at Rs 750-775.
The firm will 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, JP Morgan and Morgan Stanley are the global coordinators and book running lead managers for the issue.