PNB Housing Finance will be 17th IPO of this year; to raise Rs 2,500 crore

PNB Housing Finance has received market regulator Sebi's nod to raise Rs 2,500 via Initial Public Offer (IPO). 

Kotak Investment Banking, BofA Merrill Lynch, JM Financial, J P Morgan and Morgan Stanley will be global coordinators and book running lead managers (BLRM), Economic Times reported. 

Net proceeds from the IPO will be utilised to meet the company's future capital requirements and general corporate purposes. 

Punjab National Bank holds  64,730,700 equity shares  comprising of 51% of PNB Housing Finance's  pre-issue paid-up and subscribed equity share capital.