Book-built IPO of Punjab National Bank Housing Finance Company Limited. (25th January 2020)

• Record Type: Journal Article
• Authors: Agarwal, Pankaj K.; Aggarwal, Shalini
• Is Part Of: International journal of monetary economics and finance. Volume 12:Number 6(2019)
• Page Start: 445
• Page End: 466
• Publication Date: 2020-01-25
• Subjects: IPO -- initial public offer -- book building -- lead managers -- offer document -- capital adequacy; Monetary policy -- Periodicals; Finance -- Periodicals; Economics -- Mathematical models -- Periodicals; 332.4
• Languages: English
• ISSNs: 1752-0479

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.