PNB Housing Finance would be using the proceeds from the share sale mainly towards augmenting its capital base. New Delhi: Having secured markets regulator Sebi’s nod, PNB Housing Finance is likely to launch the initial public offering (IPO) to raise Rs2,500 crore as early as next month. 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. PNB Housing Finance would be using the proceeds from the share sale mainly towards augmenting its capital base. Promoted by Punjab National Bank which holds 51% stake, PNB Housing Finance commenced operations in 1988.

Source: Mint October 16, 2016 08:37 UTC