ICICI Securities recommends subscribing the issue. It says that at the IPO price band of Rs 750-775, the stock is available at a multiple of 2.5x FY16 ABV (post issue) at the upper end of the price band.
Most analysts are bullish on second largest IPO of 2016, as it opens for subscriptions on October 25. With PNB as parent company holding 51 percent stake, brokerage firms think PNB Housing Finance is an issue one should not miss out this season. The remaining 49 percent stake is held by Destimoney Enterprises, which is owned by Carlyle Group’s Quality Investments Holdings. The company offers a comprehensive range of home finance products and services including retail and non-housing loans.
PNB Housing Finance is aiming to raise Rs 3000 crore from the issue priced at Rs 750-775. The IPO which will close for subscription on October 27
