PNB Housing Finance IPO opens Today

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The IPO of the Mortgage lender PNB Housing Finance will open today and will close on Thursday, 27 October 2016. The price band of the IPO is fixed at Rs 750-775 to raise Rs 3,000 crore. The amount raised will be used to fund its expansion across the country. The company is planning to open 18 branches this fiscal.

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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


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