Punjab National Bank will unlock value by selling a stake in its home finance subsidiary, PNB Housing Finance, though a ₹3,000-crore IPO that opens on Tuesday and closes on October 27. The price band has been set at ₹750-775 apiece. Post-IPO, PNB will reduce its stake in PNB HF to 38-39 per cent. Also, post-issue, PNB HF will cease to be a subsidiary of PNB. However, the bank will still be its single largest shareholder at around 30 per cent.
What to watch. PNB Housing Fin IPO opens on Tuesday
Published on
October 24, 2016 16:07
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