PNB Housing Finance IPO Subscribed Over 30 Times By Final Day
This is the 23rd company to hit the market with its IPO so far this year
PNB Housing Finance Ltd.'s IPO to raise Rs 3,000 crore was oversubscribed 29.53 times on the last day of the offer on Thursday.
The IPO received bids for 82,91,97,506 shares against the total issue size of 2,80,77,500 shares, according to data from the National Stock Exchange as of 7:15 pm.
The quota set aside for qualified institutional buyers (QIBs) was oversubscribed 37.33 times, non institutional investors 86.17 times. Retail investors segment has received 1.28 times subscription.
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 IPO. The price band was fixed at Rs 750-775.
The firm will use the proceeds from 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.
This is the 23rd company to hit the market with its IPO so far this year. The IPO of Varun Beverages is also underway.