 "PNB Housing Finance lists at 11% premium to issue price")
PNB Housing Finance listed at Rs 863 on the BSE, an 11% premium over its issue price of Rs 775 per share.
The stock opened at Rs 860 on the National Stock Exchange (NSE). The stock moved higher and hit a high of Rs 903 post listing. LINK
At 10:06 am, it was trading at Rs 895, up 15% against its issue price on BSE and NSE. A combined 17.98 million shares changed hands on the counter on the NSE and BSE so far.
PNB Housing Finance, promoted by Punjab National Bank (PNB), raised Rs 3,000 crore through initial public offer (IPO). The issue was oversubscribed 29.55 times at a price band of Rs 750-775 per share.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 37.33 times while the non-institutional investor (NII) quota received 86.17 times subscription. The quota for retail investors was oversubscribed 1.36 times.
The company intends to use the proceeds for raising its capital base to meet the Tier-I capital requirements for FY17 and FY18.
The stock opened at Rs 860 on the National Stock Exchange (NSE). The stock moved higher and hit a high of Rs 903 post listing. LINK
At 10:06 am, it was trading at Rs 895, up 15% against its issue price on BSE and NSE. A combined 17.98 million shares changed hands on the counter on the NSE and BSE so far.
PNB Housing Finance, promoted by Punjab National Bank (PNB), raised Rs 3,000 crore through initial public offer (IPO). The issue was oversubscribed 29.55 times at a price band of Rs 750-775 per share.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 37.33 times while the non-institutional investor (NII) quota received 86.17 times subscription. The quota for retail investors was oversubscribed 1.36 times.
The company intends to use the proceeds for raising its capital base to meet the Tier-I capital requirements for FY17 and FY18.