PNB Housing Finance, the subsidiary of Punjab National Bank, announced that its Rs 3,000-crore initial public offering will open for subscription on October 25. The price band is fixed at Rs 750-775 per share.
The issue included a reservation of 2.5 lakh equity shares for subscription by eligible employees, not exceeding 5 percent of the post-issue paid up equity share capital. Employees may get shares at a discount of Rs 75 per share to the issue price.
The issue will close on October 27. The minimum bid lot is 19 equity shares and in multiples of 19 equity shares thereafter.
Equity shares are proposed to be listed on the NSE and BSE.
The book running lead managers to the issue are Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, JP Morgan India and Morgan Stanley India Company.
The company held a press conference today to discuss it upcoming IPO and its future plans.
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