PNB Housing lists at 11.6% premium to issue price, IPO oversubscribed by 30 times

PNB Housing Finance shares on Monday were listed at Rs 865 per share, 11.6  per cent premium to issue price.

The Rs 3,000-crore initial public offer was oversubscribed 29.55 times during October 25-27.

The company had fixed the price band at Rs 750-775 per share for the offer. 

The qualified institutional buyers category was oversubscribed 37.33 times and that of non institutional investors 86.17 times.

Retail investors portion was also oversubscribed 1.35 times. The shareholders base is in excess of 0.7 million.

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