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PNB Housing Finance and Varun Beverages join Indian IPO boom

Indian companies have raised $2.9 billion through IPOs in the first nine months of this year

Reuters  |  Mumbai | Singapore 

India's PNB Housing Finance Ltd and Varun Beverages are looking to raise as much as $630 million combined from initial public offerings (IPOs) next week, underpinning a surge in first-time share sales in Asia's third-largest economy. Indian companies have raised $2.9 billion through IPOs in the first nine months of this year, a 171 per cent jump from a year earlier and the best run since 2010, according to data compiled by Thomson Reuters. PNB Housing Finance Ltd, the fifth-largest mortgage lender by assets in India, is selling new shares to raise up to 30 billion ...

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First Published: Tue, October 18 2016. 16:40 IST
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