PNB Housing Finance to make stock market debut

Housing Finance, which recently closed its initial public offer (IPO), will make its stock market debut. The 3,000-crore IPO was oversubscribed 29.55 times during October 25-27. The qualified institutional buyers (QIBs) category was oversubscribed 37.33 times and that of non institutional investors 86.17 times. The company had fixed the price band at 750- 775 per share for the offer. Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, J P Morgan and Morgan Stanley were the global coordinators and book running lead managers for the issue.