Mortgage lender PNB Housing seeks $ 450 million in IPO - IFR

Last Updated: Tue, Oct 18, 2016 10:42 hrs
A money lender counts Indian rupee currency notes at his shop in Ahmedabad

HONG KONG: Mortgage company PNB Housing Finance Ltd is seeking to raise up to $450 million in an initial public offering, IFR reported on Tuesday, citing a term sheet of the transaction.

PNB Housing, owned by Punjab National Bank and private equity firm Carlyle Group LP , is looking to sell between 38.7 million and 40 million new shares in an indicative range of 750-775 rupees, added IFR, a Thomson Reuters publication. That would put the IPO at up to 30 billion rupees ($450 million).

($1 = 66.5919 Indian rupees)

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