PNB Housing Finance's Rs 2,500 cr IPO to hit Markets in Nov
Having secured markets regulator Sebi's nod, PNB Housing Finance is likely to launch the initial public offering to raise Rs 2,500 crore as early as next month. The leading housing finance firm had filed IPO papers with Sebi in July and got final approval last week.
"The board will meet soon to finalise the dates. The IPO is likely to hit markets in November," a source told PTI. With over two decades of specialised experience in housing finance, PNB Housing has a robust network of branches and provides housing loans to individuals and corporates for construction, purchase, repair and upgradation of houses.
It also provides loans for commercial space, loan against property and loan for purchase of residential plots. "We plan to list the company to enhance our visibility and brand name among existing and potential customers," the source added. PNB Housing Finance would be using the proceeds from the share sale mainly towards augmenting its capital base.
Having secured markets regulator Sebi's nod, PNB Housing Finance is likely to launch the initial public offering to raise Rs 2,500 crore as early as next month. The leading housing finance firm had filed IPO papers with Sebi in July and got final approval last week. 
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