IPO update: PNB Housing half covered, Varun Beverages a third

The initial public offering (IPO) of PNB Housing Finance has received 52 per cent subscription, while that of Varun Beverages has garnered 33 per cent subscription. PNB Housing' Rs 3,000-crore IPO closes on Thursday, while the Rs 1,100-crore issue of Varun Beverages will remain open till Friday.

The price band for the mortgage lender PNB Housing's IPO is Rs 750 to Rs 775 per share. Varun Beverages, a bottler for PepsiCo's, has set a price band of Rs440-445 per. PNB Housing is issuing fresh equity worth Rs 3,000 crore in the IPO which will help augment its capital base for business growth. 

 

Meanwhile, Varun Beverages' IPO is a mix of offer for sale by promoter Ravi Jaipuria and issue of fresh shares worth around Rs 660 crore.