PNB Housing IPO subscribed 57% on Day 2

PNB Housing IPO subscribed 57% on Day 2

27/10/2016 00:42

PNB Housing Finances IPO was subscribed 57 per cent on the second day of the three-day bidding offer yesterday, reported PTI.

The Rs 3,000-crore IPO received bids for 1,61,36,928 shares against the total issue size of 2,80,77,500 shares, as per data available with the NSE.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 92 per cent, while that of non institutional investors was subscribed 14 per cent.

Retail investors category received 57 per cent subscription.

The IPO attracted over 3 lakh applications on the second day.

PNB Housing Finance has raised over Rs 894 crore by allotting shares to anchor investors. Promoted by Punjab National Bank, the company is seeking to raise Rs 3,000 crore through the (IPO).

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

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