Shares in PNB Housing made a strong debut at the bourses today, surging more than 11 per cent over the issue price of Rs 775 per share.
PNB Housing had fixed the price band at Rs 750-775 per share over the offer price and was open for subscription from October 25-27.
The book running lead managers for the issue are Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities, J P Morgan and Morgan Stanley were the global coordinators.
The Rs 3,000 crore IPO issue was oversubscribed by 29.55 times. Retail investors portion was also oversubscribed 1.35 times.
The qualified institutional buyers (QIBs) category was oversubscribed 37.33 times and that of non institutional investors 86.17 times, reports PTI.
After making a strong debut, shares of company were trading at Rs 900, up 16.13 per cent against issue price, on Bombay Stock Exchange. On NSE, the stock got listed at Rs 860, up 10.97 per cent.