PNB Housing Finance, the subsidiary of Punjab National Bank (PNB) on Tuesday, launched its initial public offering (IPO) to raise Rs 3,000 crore.
The issue, that closes on Thursday, can be subscribed in the price band of Rs 750-775.
Detailing about the objects of the issue, the Red Herring Prospectus of the company said it will help augment company's tier-I capital base to meet the future capital requirements which are expected to arise out of growth of PNB Housing's business and assets, primary the housing and non-housing loans.
The money garnered through IPO would also help the firm comply with National Housing Board directions on minimum capital adequacy ratio, which consists of tier-I and tier-II capital.
Below are ten points you must know about the PNB Housing Finance IPO: