 "IPO update: PNB Housing half covered, Varun Beverages a third")
The initial public offering (IPO) of PNB Housing Finance has received 52 per cent subscription, while that of Varun Beverages has garnered 33 per cent subscription. PNB Housing' Rs 3,000-crore IPO closes on Thursday, while the Rs 1,100-crore issue of Varun Beverages will remain open till Friday.
The price band for the mortgage lender PNB Housing's IPO is Rs 750 to Rs 775 per share. Varun Beverages, a bottler for PepsiCo's, has set a price band of Rs440-445 per. PNB Housing is issuing fresh equity worth Rs 3,000 crore in the IPO which will help augment its capital base for business growth.
Meanwhile, Varun Beverages' IPO is a mix of offer for sale by promoter Ravi Jaipuria and issue of fresh shares worth around Rs 660 crore.
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