PNB Housing Finance
BUSINESS

PNB Housing Finance is a safe bet says Angel Broking

PNB Housing Finance (PNBH) is among one of the biggest initial public offering (IPO) that open on Tuesday. Angel Broking says that this stock would be worth investing. This finance company is raising Rs 3,000/- crores that will be a helpful capital for its future plans.

PNBH is offering equity shares at a price of Rs 750-775/- and a total of 3.9 crores in number. Public Sector Bank, PNB has 51% stake and post IPO it will drop to 35%. The PE ratio is 28.10, while is higher than industry PE of 25.98. PNB Housing Finance (PNBH) is offering 3.9 crore (39 million) shares to prospective investors at a price band of Rs 750-775 per equity share, between October 25 and 27, 2016.

This is the second largest IPO in the calendar years 2016. The other two recent offerings ICICI Prudential and Endurance Technologies had a mixed output. ICICI bank closed at Rs 626 and was initially offered at Rs 472. On the other hand Endurance Technologies closed at Rs 323 and the initial offering was at Rs 334 per share.

According to Angel broking the two brownie points of PNBH are the delivered RoE of 17.6% on pre-issue net worth. And despite growth in loans they have asset quality of GNPAs/NNPAs at 0.22 percent/0.14 percent. This is the one of the best in the industry. Read more Business News.

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PNB Housing Finance is a safe bet says Angel Broking
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