You are here: Home » PTI Stories » National » News
Business Standard

PNB Housing Finance's Rs 3,000-cr IPO to hit market on Oct 25

Press Trust of India  |  Mumbai 

Mortgage lender PNB Housing Finance has fixed a price band of Rs 750-775 for its initial public offer to raise Rs 3,000 crore.

The amount raised will be used to fund its expansion across the country.



"We are present only at 28 locations with 48 branches and there is enough headroom for us to grow. We are going to grow and invest rapidly and sensibly in our distribution network," PNB Housing Finance Managing Director Sanjaya Gupta told reporters here today.

The company is planning to open 18 branches this fiscal.

"Out of 18 branches, six would be in cities where we are already present and the balance 12 will be opened in tier II and III cities," Gupta said.

He said post the IPO, the two promoters of the company -- National Bank and Carlyle Group, L.P -- will together pare around 23.5 per cent stake.

PNB's stake, which is currently at 51 per cent, will be reduced to 39 per cent while Carlye Group's holding will come down to 37 per cent from 49.6 per cent.

The issue will open on October 25 and close on October 27.

The shares will be listed on and BSE.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

PNB Housing Finance's Rs 3,000-cr IPO to hit market on Oct 25

Mortgage lender PNB Housing Finance has fixed a price band of Rs 750-775 for its initial public offer to raise Rs 3,000 crore. The amount raised will be used to fund its expansion across the country. "We are present only at 28 locations with 48 branches and there is enough headroom for us to grow. We are going to grow and invest rapidly and sensibly in our distribution network," PNB Housing Finance Managing Director Sanjaya Gupta told reporters here today. The company is planning to open 18 branches this fiscal. "Out of 18 branches, six would be in cities where we are already present and the balance 12 will be opened in tier II and III cities," Gupta said. He said post the IPO, the two promoters of the company -- Punjab National Bank and Carlyle Group, L.P -- will together pare around 23.5 per cent stake. PNB's stake, which is currently at 51 per cent, will be reduced to 39 per cent while Carlye Group's holding will come down to 37 per cent from 49.6 per cent. The issue will ... Mortgage lender PNB Housing Finance has fixed a price band of Rs 750-775 for its initial public offer to raise Rs 3,000 crore.

The amount raised will be used to fund its expansion across the country.

"We are present only at 28 locations with 48 branches and there is enough headroom for us to grow. We are going to grow and invest rapidly and sensibly in our distribution network," PNB Housing Finance Managing Director Sanjaya Gupta told reporters here today.

The company is planning to open 18 branches this fiscal.

"Out of 18 branches, six would be in cities where we are already present and the balance 12 will be opened in tier II and III cities," Gupta said.

He said post the IPO, the two promoters of the company -- National Bank and Carlyle Group, L.P -- will together pare around 23.5 per cent stake.

PNB's stake, which is currently at 51 per cent, will be reduced to 39 per cent while Carlye Group's holding will come down to 37 per cent from 49.6 per cent.

The issue will open on October 25 and close on October 27.

The shares will be listed on and BSE.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

PNB Housing Finance's Rs 3,000-cr IPO to hit market on Oct 25

Mortgage lender PNB Housing Finance has fixed a price band of Rs 750-775 for its initial public offer to raise Rs 3,000 crore.

The amount raised will be used to fund its expansion across the country.

"We are present only at 28 locations with 48 branches and there is enough headroom for us to grow. We are going to grow and invest rapidly and sensibly in our distribution network," PNB Housing Finance Managing Director Sanjaya Gupta told reporters here today.

The company is planning to open 18 branches this fiscal.

"Out of 18 branches, six would be in cities where we are already present and the balance 12 will be opened in tier II and III cities," Gupta said.

He said post the IPO, the two promoters of the company -- National Bank and Carlyle Group, L.P -- will together pare around 23.5 per cent stake.

PNB's stake, which is currently at 51 per cent, will be reduced to 39 per cent while Carlye Group's holding will come down to 37 per cent from 49.6 per cent.

The issue will open on October 25 and close on October 27.

The shares will be listed on and BSE.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard