PNB Housing Finance sets IPO price band between Rs 750-775 per share

• Offer to open October 25 and close on October 27
• Will offer 40 million new shares 

Mortgage company PNB Housing Finance Ltd is seeking to raise up to $450 million in an initial public offering, IFR reported on Tuesday, citing a term sheet of the transaction.

PNB Housing, owned by Punjab National Bank and private equity firm Carlyle Group LP , is looking to sell between 38.7 million and 40 million new shares in an indicative range of 750-775 rupees, added IFR, a Thomson Reuters publication. That would put the IPO at up to 30 billion rupees ($450 million).

ALSO READ: PNB Housing Finance will be 17th IPO of this year; to raise Rs 2,500 crore