Mumbai ( GPN) : (L – R ) Mr. Sanjay Jain (Company Secretary & Head Compliance, PNB Housing Finance Ltd.); Mr. Ajay Gupta, (Chief Risk Officer, PNB Housing Finance Ltd.); Mr. Shaji Varghese (Business Head, PNB Housing Finance Ltd.); Mr. Sanjaya Gupta (Managing Director, PNB Housing Finance Ltd.); Mr. Jayesh Jain (Chief Financial Officer, PNB Housing Finance Ltd.); Mr. Anshul Bhargava (Chief People Officer, PNB Housing Finance Ltd.) and Mr. Nitant Desai, Chief Operating And Technology Officer, PNB Housing Finance Ltd.) at the IPO press conference.
Mumbai, October 18, 2016 (GPN) : PNB Housing Finance Limited (the “Company” or “Issuer”) proposes to open on Tuesday, October 25, 2016, an Initial Public Offering of Equity Shares of Face Value of Rs. 10 each (“Equity Shares”) for cash including a share premium at a Price Band from Rs. 750 to Rs. 775 per Equity Share aggregating up to Rs. 30,000 million (the “Issue”). The Issue includes a reservation of 250,000 Equity Shares for subscription by eligible employees (as defined in the Red Herring Prospectus dated October 15, 2016) not exceeding 5% of the post-Issue paid up equity share capital (“Employee Reservation Portion”). The Issue less the Employee Reservation Portion is hereinafter referred to as the “Net Issue”.
Mumbai (GPN) : Mr. Sanjaya Gupta, Managing Director, PNB Housing Finance Limited addressing the media at a press conference to announce the IPO.
The Company, in consultation with the Global Co-Ordinators and Book Running Lead Managers (“GCBRLMs”), may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Issue Opening Date. The Issue will close on Thursday, October 27, 2016. The minimum Bid lot is 19 Equity Shares and in multiples of 19 Equity Shares thereafter. An Employee Discount of Rs. 75 per Equity Share to the Issue Price may be offered to Eligible Employees bidding in the Employee Reservation Portion.
The Equity Shares offered through the Issue are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”).
The GCBRLMs to the Issue are Kotak Mahindra Capital Company Limited, DSP Merrill Lynch Limited, JM Financial Institutional Securities Limited, J. P. Morgan India Private Limited and Morgan Stanley India Company Private Limited.
The Issue is being made through the Book Building Process and in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”), wherein not more than 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that the Company may, in consultation with the GCBRLMs, allocate up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third is to be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Issue Price. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, Equity Shares will be available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received from them at or above the Issue Price. All Investors (except Anchor Investors) shall mandatorily participate in this Issue only through the Application Supported by Blocked Amount (“ASBA”) process, and shall provide details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”).
