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You are here: IndiaNotes >> Research & Analysis >> IPOs >> Overview

PNB Housing Finance IPO

Industry: Finance

What Are Analysts Saying?

PNB Housing's IPO fully subscribed on the Last Day
Dynamic Equities Pvt Ltd, 01 Nov 2016
On Thursday, the IPO of PNB Housing Finance got subscribed 1.08 times percent till the first 2 hour of last day of the bidding process.

1% of PNB Housing Finance IPO fully Subscribed
Dynamic Equities Pvt Ltd, 26 Oct 2016
The IPO of PNB Housing Finance kicked off, logging bids for 2.63 lakh shares in the first half-an-hour of the bidding process. This was roughly 1 per cent of the 2.8 crore shares the housing lender has put on the block.

PNB Housing Finance IPO: Way2wealth recommend to subscribe to the issue for long term gain
Way2wealth, 25 Oct 2016
According to Way2wealth, post issue book value of the Company is likely to be Rs 311/316. PNBHFL has delivered 17.6% RoE on the pre issue net worth in FY16. Given the growth potential ahead, We believe, PNBHFL stock has a reasonable potential to offer higher returns.

PNB Housing Finance IPO: Nirmal Bang recommend to subscribe to the issue
Nirmal Bang, 25 Oct 2016
According to Nirmal Bang, on the valuation front, at the given upper band price of issue of Rs. 775, the stock is offered at P/E of 39.2x of its diluted FY16 EPS and 2.5x FY16 P/BV which we believe is reasonably priced as compared to its peers.

PNB Housing Finance IPO: A Transformed Lender
Punit Jain, 25 Oct 2016
According to JainMatrix Investments, we feel this offering is attractive for investors. As an investment, the PHF IPO is rated a medium risk, high return type of offering. Investors may BUY PHF with a 1 year perspective.

Issue Details

Open Date: 25 Oct 16 Min Application Amount: Rs. 14250
Close Date: 27 Oct 16 Min bid (No. of shares): 19
Offer Price: Rs. 750 Issue Size: Rs. 3,000.00 Cr
Listing Exchanges: BSE, NSE Issue Size (Shares):

About the Company

"Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India's No. 1 IPO Investment Portal.

Company's target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail.They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium."

Objective of the Issue

"Objects of the Issue:

Company intends to utilize the Net Proceeds towards the following:

1. Augment the capital base to meet their future capital requirements;
2. General corporate purpose; and
3. Enhance visibility and brand name among existing and potential customers."