PNB Housing Finance Bombay Stock Exchange IPO

Overview:

• PNB Housing Finance, the fifth-largest mortgage lender by assets in India, has launched the country's second largest IPO in 2016 at the Bombay Stock Exchange to raise $450 million.
• Kotak Investment Banking, DSP Merrill Lynch, JM Financial, JPMorgan and Morgan Stanley are the underwriters of the IPO.
• PNG Housing Finance operates 47 branches and 16 processing hubs across the northern, western and southern regions of India. 
• Punjab National Bank (PNB), one of the largest nationalised banks in India with 6759 branches, is the promoter in the transaction.
• PNB Housing Finance is a subsidiary of PNB, which holds 51% of the total equity share capital of PNB Housing Finance.

Wai Yee Tsang - Journalist