PNB Housing Finance files draft papers for Rs 2500cr IPO #manappuram #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft red herring prospectus for IPO – The Economic Times on Mobile #car #finance #loan


#pnb housing finance

#

PNB Housing Finance files draft red herring prospectus for IPO

The leading housing finance firm would be using the proceeds from the share sale mainly towards augmenting its capital base.

MUMBAI: PNB Housing Finance. the housing finance arm of public sector lender Punjab National Bank has submitted a draft red herring prospectus in the run up to its planned initial public offering (IPO).

In May, Usha Ananthasubramanian, managing director of PNB had said that it intends to lower their stake to 51% in the profitable housing finance company.

However the bank would still retain its majority shareholding in the housing finance entity. According to media reports the company plans to raise around Rs 2000 crore through the offering.

PNB which had suffered a historic loss of Rs 5000 crore in the fourth quarter of FY16 is planning to raise some funds by liquidating its share in its housing finance subsidiary.

The company has appointed Kotak Investment Banking. Bank of America Meryll Lynch, JM Financial, JP Morgan, Morgan Stanley and Link Intime as investment bankers for the IPO.

The draft red herring prospectus says that the company has emerged as the fifth largest housing finance company in India.

Its total loan portfolio as on March 31 of this year stood at Rs 27,177 crore and generated revenue worth Rs 2700 crore.

The company operates through 47 branches and 16 operating hubs as of end of FY16.


PNB Housing Finance files draft papers for Rs 2500cr IPO #nyc #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft papers for Rs 2500cr IPO #rim #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft red herring prospectus for IPO – The Economic Times on Mobile #finance #times


#pnb housing finance

#

PNB Housing Finance files draft red herring prospectus for IPO

The leading housing finance firm would be using the proceeds from the share sale mainly towards augmenting its capital base.

MUMBAI: PNB Housing Finance. the housing finance arm of public sector lender Punjab National Bank has submitted a draft red herring prospectus in the run up to its planned initial public offering (IPO).

In May, Usha Ananthasubramanian, managing director of PNB had said that it intends to lower their stake to 51% in the profitable housing finance company.

However the bank would still retain its majority shareholding in the housing finance entity. According to media reports the company plans to raise around Rs 2000 crore through the offering.

PNB which had suffered a historic loss of Rs 5000 crore in the fourth quarter of FY16 is planning to raise some funds by liquidating its share in its housing finance subsidiary.

The company has appointed Kotak Investment Banking. Bank of America Meryll Lynch, JM Financial, JP Morgan, Morgan Stanley and Link Intime as investment bankers for the IPO.

The draft red herring prospectus says that the company has emerged as the fifth largest housing finance company in India.

Its total loan portfolio as on March 31 of this year stood at Rs 27,177 crore and generated revenue worth Rs 2700 crore.

The company operates through 47 branches and 16 operating hubs as of end of FY16.


PNB Housing Finance files draft papers for Rs 2500cr IPO #accounting #and #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft papers for Rs 2500cr IPO #safrock #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft papers for Rs 2500cr IPO #london #finance #jobs


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft papers for Rs 2500cr IPO #mazda #finance


#pnb housing finance

#

PNB Housing Finance on July 5 approached SEBI for an initial public offer worth up to Rs 2,500 crore.

The leading housing finance firm, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base.

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

The housing finance company plans to utilise the proceeds to augment the company’s capital base and for general corporate purposes, as per the DRHP.

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

For the year ended March 2016, PNB Housing Finance reported a profit after tax of Rs 327.57 crore while revenue from operations stood at Rs 2,699.54 crore in the same period.

At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would “continue to hold approximately 35-37 per cent of the issued and paid-up share capital”, according to the DRHP.

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley are the global coordinators and book running lead managers for the proposed issue.

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.


PNB Housing Finance files draft red herring prospectus for IPO – The Economic Times on Mobile #wesbank #car #finance


#pnb housing finance

#

PNB Housing Finance files draft red herring prospectus for IPO

The leading housing finance firm would be using the proceeds from the share sale mainly towards augmenting its capital base.

MUMBAI: PNB Housing Finance. the housing finance arm of public sector lender Punjab National Bank has submitted a draft red herring prospectus in the run up to its planned initial public offering (IPO).

In May, Usha Ananthasubramanian, managing director of PNB had said that it intends to lower their stake to 51% in the profitable housing finance company.

However the bank would still retain its majority shareholding in the housing finance entity. According to media reports the company plans to raise around Rs 2000 crore through the offering.

PNB which had suffered a historic loss of Rs 5000 crore in the fourth quarter of FY16 is planning to raise some funds by liquidating its share in its housing finance subsidiary.

The company has appointed Kotak Investment Banking. Bank of America Meryll Lynch, JM Financial, JP Morgan, Morgan Stanley and Link Intime as investment bankers for the IPO.

The draft red herring prospectus says that the company has emerged as the fifth largest housing finance company in India.

Its total loan portfolio as on March 31 of this year stood at Rs 27,177 crore and generated revenue worth Rs 2700 crore.

The company operates through 47 branches and 16 operating hubs as of end of FY16.