PNB Housing Finance to raise Rs 2,500 cr through IPO

Capital markets controller SEBI has given PNB Housing Finance a thumbs up to raise Rs 2,500 crore through an Initial Public Offering (IPO).

The IPO papers have been documented by the PNB lodging Finance with SEBI in July. The markets regulater, on October 6, issued its last perceptions on the draft offer reports.

The returns from the share sale would be principally utilized towards expanding its capital base by PNB Housing Finance.

As indicated by the Draft Red Herring Prospectus (DRHP), the company plans to raise up to Rs 2,500 crore through the underlying share sale and a portion would be reserved for the employees.

"We believe that the listing of our equity shares will enhance our visibility and brand name among existing and potential customers," it added.

The company plans to grow business and loan portfolio by consolidating position in key geographies as well as by expanding into specific target markets such as the affordable housing segment.
(image: Indiatimes)