PNB Housing, Varun IPOs get star treatment

india px230
By John Loh
27 Oct 2016

Investors have greeted India’s latest IPOs with open arms, as PNB Housing Finance and Varun Beverages seek to raise Rp41.1bn ($616.9m) this week.

PNB Housing, a unit of state-owned Punjab National Bank, launched a highly popular Rp30bn trade on Tuesday, set to be India’s second largest listing this year.

The deal was 9.8x covered in the final hours of bookbuilding on Thursday, in line with bankers’ prediction of a blockbuster ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial