After getting a strong response from its recently concluded initial public offering (IPO), the stock of PNB Housing Finance on Monday surged 15 percent on the listing day in the bourses.
The stock of the home finance arm of state-run lender Punjab National Bank closed at Rs 890.60, up 14.92 per cent, or Rs 115.60, on BSE compared with its issue price of Rs 775. On the day's trade, it hit a high of Rs 902.95 and a low of Rs 860.05.
On NSE, the scrip settled for the day at Rs 891.15, up 14.99 per cent.
Earlier in the day, shares of PNB Housing Finance got listed on BSE at Rs 863 with an 11.35 percent premium over the issue price of Rs 775. They got listed at Rs 860, up 10.97 per cent on NSE.
The Rs 3,000 crore IPO was subscribed 29.55 times during the three-day period starting from October 25.
--IANS
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