Title: Book-built IPO of Punjab National Bank Housing Finance Company Limited

Authors: Pankaj K. Agarwal; Shalini Aggarwal

Addresses: Institute of Management Studies, G.T. Road, Lal Quan, Ghaziabad, 201 009, India ' Chandigarh University, NH-95, Ludhiana – Chandigarh State Hwy, Punjab 140413, India

Abstract: A company going public is a complicated process to execute. The initial public offer (IPO) process is an elaborate exercise with intertwined regulatory, financial valuation, managerial and marketing aspects. It starts from the need for funds, Board decision to go public, appointment of intermediaries, preparation of offer document, pricing, compliances, marketing, bidding, allotment till final listing. This case takes the reader through the entire journey of a real-life IPO of PNBHFCL. Financial firms often tap equity markets to improve their capital adequacy for regulatory compliance. With this objective, Punjab National Bank Housing Finance Company Limited successfully brought out their IPO in India in October 2016. The case is expected to serve as an authentic and comprehensive account of a real-life IPO in India, all put together in a single document.

Keywords: IPO; initial public offer; book building; lead managers; offer document; capital adequacy.

DOI: 10.1504/IJMEF.2019.10023484

International Journal of Monetary Economics and Finance, 2019 Vol.12 No.6, pp.445 - 466

Received: 28 Feb 2019
Accepted: 10 Jul 2019

Published online: 25 Jan 2020 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article