India: Carlyle-backed PNB Housing Finance files draft papers for $372m IPO

India: Carlyle-backed PNB Housing Finance files draft papers for $372m IPO

The housing finance subsidiary of state-owned Punjab National Bank (PNB), PNB Housing Finance Ltd, on Tuesday filed its draft proposal with the market regulator for a Rs.2,500 crore initial public offering (IPO).

The company has hired five merchant banks—Kotak Mahindra Capital Co. Ltd, DSP Merrill Lynch Ltd, JM Financial Institutional Securities Ltd, JP Morgan India Pvt. Ltd and Morgan Stanley India Co. Pvt. Ltd—to manage the share sale through fresh issue of shares.

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