PNB Housing Fin IPO sails through, subscribed 1.49 times

PNB Housing Finance's IPO was oversubscribed 1.49 times till afternoon trade on the third day of the offer today.
The IPO received bids for 4,17,25,596 shares against the total issue size of 2,80,77,500 shares, data available with the NSE till 1230 hrs showed.
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 IPO. The issue is scheduled to close today.
The company has fixed the price band at Rs 750-775.
The firm will use the proceeds from share sale mainly towards augmenting its capital base.

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.