PNB Housing Finance IPO Details

Issue Open Oct 25, 2016
Issue Close Oct 27, 2016
IPO Price ₹775
Face Value ₹10
IPO Size ₹3,000.75 Cr
Listing At BSE, NSE
IPO Lot Size 19

Not for release publication or distribution in the United States, Canada. Australia or Japan or any other jurisdiction where to do so might constitute a violation of applicable law. This is an advertisement for informaton purposes only. This Is not a Prospectus announcement, and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly outside India.

PNB HOUSING FINANCE LIMITED

Our Company was incorporated as "PNB Housing Finance Private Limited" on November 11, 1988. as a private limited company under the Companies Act, 1956,. with a certificate of incorporation granted by the Registrar of Companies. National Capital Territory of Delhi and Haryana (the "RoC"). Pursuant to the co nversion of our Company to a publie limited company, our name was changed to "PNB Housing Finance Limited" and the RoC certified the change of name upon conversion to a public limited company on December 30, 1989. For details of change in name and registered office of our Company, see ' 'History and Certain Corporate Mutters" on page 164 of the Prospectus dated November 1, 2016,

Corporate Identity Number: U65922DL1988PLC033856, Registered and Corporate Office: 9th Floor, Antrikih Bhavan, 22 Kasturba Gandhi Margr New Delhi 110 001, India Tel: +91 11 23357171 Fax: +91 11 23357173, Contact Persons Mr. Sanjay Jain, Company Secretary and Compliance Officer, Tel: +91 11 23354206, Fax: +91 11 23357173, E-mail: investor.iervices@pnbhousing.com Website: www.pnbhousing.com.

OUR PROMOTER: PUNJAB NATIONAL BANK

BASIS OF ALLOTMENT

The Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and trading in Equity Shares will commence on November 07, 2016.

INITIAL PUBLIC OFFERING OF 38,719,309 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF PNB HOUSING FINANCE LIMITED ("PNBHF" OR "OUR COMPANY" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 775 PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS 765 PER EQUITY SHARE) (THE "ISSUE PRICE") AGGREGATING UP TO RS 30,000 MILLION (THE "ISSUE"), THE ISSUE INCLUES A RESERVATION OF 250,000 EQUITY SHARES AGGREGATING TO RS 175 MlLLION" FOR SUBSCRIPTION BY EUGIBLE EMPLOYEES, NOT EXCEEDING 5% OF OUR POST-ISSUE PAID UP EQUITY SHARE CAPITAL ("EMPLOYEE RESERVATION PORTION"), THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREIN AFTER REFERRED TO AS THE " NET ISSUE".

#Discount of Rs 75 per Equity Share to the Issue Price has been offered to Eligible Employees (the "Employee Discount"). All amounts have been included talking into consideration the Employee Discount

Issue Price: Rs 775 per Equity Share of face value of Rs 10 each | Anchor Investor Issue Price: Rs 775 per Equity Share | The Issue Price is 77.5 times of the face value

Risks to Investors

I, The five merchant bankers associated with the Issue have handled twenty two public issues in the past three years, out of which nine issues closed below the issue price on listing date.

II. The Price/Earnings ratio based on diluted EPS on restated basis for FY16 for the Issuer at the upper end of the Price band is as high as 28.10, as compared to the Industry average of 25,98.

III.  The Return on Net Worth ("RoNW") for FY 2016, based on restated Financials, for the Issuer is  17.60%, as compared to Industry average of 21.98%.

IV.  Average cost of acquisition of Equity Shares for Promoter is Rs 71.19 per Equity Share whereas the Issue Price for the public is much higher at Rs 775 (Upperend of the Price Band),

BID/ISSUE PERIOD   BID/ISSUE OPENED ON OCTOBER 25, 2016* | BID/ISSUE CLOSED ON OCTOBER 27, 2016

*The Anchor Investor Bid/Issue Period was one Working Day prior to the Bid/Issue Opening Date i.e. October 24,2016 in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. 2009, as amended ("SEBI ICDR Regulations')

In terms of Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"), the Net Issue is being made for at least 10% of the post-Issue paid-up equity share capital of our Company. The Issue is being made through the Book Building Process in compliance with Regulation 26(1) of the SEEI ICDR Regulations, wherein not more than 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIBCategory") provided that the Company may , in consultation with the Global Co-ordinators & Book Running Lead Managers ("GCBRLMs"), allocate Up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulation (the "Anchor Investor Portion"' ) of which one-third Is to be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor investor Issue Price. Further, 5% of the QIB Category (excluding the Anchor investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net tssue shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR. Regulations, subject to valid Bids being received at or above the Issue Price. Further, 2,50,000 Equity Shares will be available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received from them at or above the Issue Price, All Investors (except Anchor Investors) have participated in this Issue only through the Application Supported by Blocked Amount ("ASBA") processr Registrar to an Issue and shall provide details of their respective bank account which will be blocked by the Self Certified Syndicate Banks   ("SCSBs")'*. For details, sae "issue Procedure"on page 322 of the Prospectus.

* Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

The issue received 745,354 applications for 790,602,730 Equity Shares before (technical rejections) resulting in 20,4111 timesubscription. The details of the  Applications received in the Issue from Retail Individual Investors, Non Institutional Investors, Qualified Institutional Bidders ("QIBs'') (excluding Anchor Investors), Anchor investors and Eligible Employees are as under (before technical rejections):

Category No. of
Applications
No. of Equity
Shares
Reserved No. of times
Subscription
Amount
Retail Individual Investors 7,43,697 1,83,14,176 1,34,69,355 1.3597 14,200,977,294.00
Non Institutional Investors 864 46,32,49,811 57,72,581 80.2500 3,59,018,560.841.00
Qualified Institutional Bidders
(excluding Anchor Investors)
179 29,70,52,289 77,04,032 38.5580 2,30,215,523,975.00
Anchor Investors 71 l,18,79,237 1,15,37,902 1.0296 9,206,408,675.00
Eligible Employees 543 1,07,217 2,50,000 0.4289 75,060,355.00
TOTAL 7,45,354 79,06,02,730 3,87,33,870 20.4111 6,12,716,531,140.00

Final Demand
A summary of the final demand as per the NSE and the BSE at different bid prices is as under:

Bid Price (Rs) No, of
Equity Shares
% to
Total
Cumulative
Total
Qimulative %
to Total
750 3,03,563 0.04 3,03,563 0.04
751 9,975 0.00 3,13,538 0.04
752 1,007 0.00 3,14,545 0.04
753 342 0.00 3,14,887 0.04
754 190 0.00 3,15,077 0.04
755 1,43,089 0.02 4,58,166 0 06
756 399 0 00 4,58,565 0.06
757 323 0.00 4,58,888 0.06
758 171 0.00 4,59,059 0.06
759 152 0.00 4,59,211 0.06
760 30,001 0.00 4,89,212 0.06
761 437 0.00 4,89,649 0.06
762 1,330 0.00 4,90,979 0,06
763 2,337 0.00 4,93,316 0.06
764 1.33 0.00 4,93,449 0.06
765 3,55,167 0,04 8,48,616 0,10
766 76 0.00 8,48,692 0.10
767 399 0.00 3,49,091 0.10
768 304 0.00 3,49,395 0.10
769 114 0.00 8,49,509 0.10
770 86,355 0.01 9,35,864 0.11
771 722 0.00 9,36,586 0.11
772 608 0.00 9,37,194 0.11
773 4,123 0.00 9,41,317 0.11
774 5,434 0,00 9,46,751 0.11
775 81,30,99,889 97.90 81,40,46,640 98.01
9999 1.65,07,466 l.99 83,05,54,106 100.00
TOTAL 83,05,54,106 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being National Stock Exchange of India Limited ("NSE") on November 3,2016.
A, Allocation to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of  Rs 775 per Equity Share, was finaliied in consultation with NSE. This category has been subscribed to the extent of 1.3329 Times after technical rejections The total number of Fquity Shares Allotted in Retail Individual Investors category is 13,516,919" Equity Shares (includes under subscribed portion of 47.564 Equity Shares spilled over from Eligible Ernployee portion) to 711,416 successful Applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of Equity
Shares Allotted
per Bidder
Ratio Total No. of
Equity Shares
Allotted
19 6,85,492 93.44 1,30,24,348 72.29 19 32:33 1,26,29,965
38 17,224 2.35 6,54,512 3.63 19 32:33 3,17,414
57 7,092 0.97 4,04,244 2.24 19 32:33 1,30,701
76 3,513 0.48 2,66,988 1.48 19 32:33 64,752
95 3,587 0.49 3,40,765 1.89 19 32:33 66,082
114 2,555 0.35 2,91,270 1.62 19 32:33 47,082
133 2,153 0.29 2,86,349 1.59 19 32:33 39,672
152 755 0.10 1,14,760 0.64 19 32:33 13,908
171 389 0.05 66,519 0.37 19 32:33 7,163
190 1,628 0.22 3,09,320 1.72 19 32:33 30,001
209 364 0.05 76,076 0.42 19 32:33 6,707
228 520 0.07 1,18,560 0.66 19 32:33 9,576
247 8,352 1.14 20,62,944 11.45 19 32:33 1,53,881
46,681 Allottees from Serial  no 2 to 13 allotted 1 (one) additional share 1 1:3112 15
TOTAL 7,33,624 100.00 1,80,16,655 100,00 1,35.16,919

"Shortfall from Eligible Employee portion added to Net Issue. For details refer to Note Under point C. Allocation to Eligible Employees (AfterTechnical Rejections)

B. Allacation to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non  Institutional Investors, who have bid at the issue Price of  Rs 775 per Equity Share or above, wasfinalized in consultation with NSE. This category has been subscribed to the extent of  79.9466" times after technical rejections. The total number of Equity Shares allotted in this category is 5,732,566' Equity Shares (includes under subscribed portion of 20,385 Equity Shares spilled over from Eligible Employee portion) to 700 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample as under)

Category No. of
Applications
Received
% of
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of Equity
Shares Allotted
per Bidder
Ratio Total No. of
Equity Shares
Allotted
266 48 5.65 12,768 0.00 19 1:6 152
285 19 2.24 5.415 0.00 19 3:19 57
304 6 0.71 1.824 0.00 19 1:6 19
323 4 0.47 1.292 0 00 19 1:4 19
342 3 0.35 1.026 0.00 19 1:3 19
361 2 0.24 722 0.00 19 1:2 19
380 26 3,06 9.880 0.00 19 3:13 114
399 2 0.24 798 0.00 19 1:2 19
418 3 0.35 1,254 0.00 19 1:3 19
437 5 0.59 2,185 0.00 19 1:5 19
456 2 0.24 912 0.00 19 1:2 19
475 3 0.35 1,425 0.00 19 1:3 19
494 13 1.53 6,422 0.00 19 4:13 76
513 7 0.82 3.591 0.00 19 2:7 38
532 1 0.12 532 0.00 19 1:1 19

"Shortfall from Eligible Employee portion added to Net Issue. Far details refer to Note Under point C. Allocation to Eligible Employees (After Technical Rejections)
C. Al location to Eligible Employee (After Technical Rejections)
The Basis of Allotment to the Eligible Employee portion,  who have bid at the issue Price of  Rs 775 (A discount of Rs. 75/- per Equity Share has been offered to Eligible Employees (the "Employee Discount") per Equity Share or above, was finalized in consultation with NSE, This category has been subscribed to tbe extent of 0.3982 times* after technical rejection. The total  number of Equity Shares allotted in this category is 99,541 Equity Shares to 463 successful applicants. The category- wise details of the Basis of Allotment are as under:

Category No, of
Applications
Received
% of
Total
Total No. of
Equity Shares,
Applied
% to
Total
No. of Equity
Shares Allotted
per Bidder
Ratio Total No. of
Equity Shares
Allotted
19 20 4.37 380 0.38 19 1 1 380
38 22 4.75 836 0.84 38 1:1 836
57 19 4.10 1,083 1.09 57 1:1 1,083
76 22 4.75 1,672 1.68 76 1:1 1,672
95 19 4.10 1,805 1.81 95 1:1 1,805
114 15 3,24 1,710 1.72 114 1:1 1,710
133 14 3.02 1,862 1.87 133 1:1 1,862
152 17 3.67 2,584 2.60 152 1:1 2.584
171 7 1,51 1,197 1.20 171 1:1 1,197
190 4 0,86 760 0.76 190 1:1 760
209 6 1.30 1.254 1.26 209 1:1 1,254
228 4 0.S6 912 0.92 228 1:1 912
247 7 1.51 1,729 1.74 247 1:1 1,729
266 2 0.43 532 0.53 266 1:1 532
285 285 61.56 81,225 81.60 285 1:1 81,225
TOTAL 463 loo.orj 99,541 100.00 99,541

Note: *The shortfall from the Eligible Employee portion is Rs. 105,321,300 which is. computed as 250,000 minus 99.541 Equity Shares (valid bids under Eligible Employee portion) multiplied by Rs. 700 per Equity Share ("Shortfall"). The Shortfall in terms of additional shares to be issued under the Net Issue category at Rs. 775 per Equity Share is computed at 135,898 Equity Shares. Undersubscribed portion of 135,898 Equity Shares have been spilled over and added to the Net issue and therefore in the ratio of 50:15:35 to QIB, N1l and Retai1 lndividual Bidders category.
D. Allocation to QlBs (excluding Anchor Investors) (After Technical Rejections)
Allotment to Qibs, who have bid at the Issue Price of Rs 775 per Equity Share, has baen done on a proportionate basis in consultation with the NSE. This category has been subscribed To the extent of 33.2209 tiimes'. As per the SEBI ICDR Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QlB portion available I.e. 388,599 Equity Shares (includes under subscribed portion of 3,397 Equity Shares spilled over from Eligible Employee Portion) and other QIBs (including Mutual Funds) were allotted the remaining, available Equity Shares i.e. 7,383,382 Equity Shares (includes under subscribed portion of 64,552 Equity Shares spilled over from Eligible Employee Portion) on aproportionate basis.The total number of Equity Shares allotted in the QIB category is 7,771,981 Equity Shares, which were allotted to 179 successful Applicants.

Category Fls/Banks MFs ICs VCs AIF FII/FPC Others Total
ALLOTMENT 19,15,466 12,70,091 6,27,050 32,097 73,241 38,54,036 - 77,71,981

Shortfall from Eligible Employee portion added to Net Issue. For details refer to Note Under point C. Allocation to Eligible Employees (After Technical Rejections)
E. Allocation to Anchor Investors.
The Company has allotted 11,537.902 Equity Shares to 43 Anchor Investors, in consultation with the GCBRLMs, In accordance with the SEBI ICDR Regulati ons, this represents 59.75% of the QIB Portion.

Category FIs/Banks MFs ICs VCs AIF FII/FPC Others Total
ALLOTMENT - 38,45,980 9,19,942 - - 67,71,980 - 1,15,37,902

The IPO Committee of the Board of our Company at its meeting held on November 3, 2016 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stack Exchange, being NSE and has allotted the Equity Shares to various successful applicants.
The Allotment Advice cum Refund Intimations have been dispatc hed to the address. of the investors as. registered with the depositories. Further, the Instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued an November 3, 2016 and payment to non-Syndicate brokers have been issued on November 3,2016 In case the same is not received, investors may contact the Registrar to the Issue, Link tntime India Private Limited, at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on Novemoer3,2016, for credit in to the respective beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company has received listing and trading appro val from NSE  and BSE on November 4,2016 and Trading will be effective from November 7,2016.

INVESTORS PLEASE NOTE

The details of the Basis of Allotment made shall be hosted on the website of the Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in.

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole Bidder, Bid cum Application Form nurnber, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Applicaton Form, address of the Bidder, number of Equity Shares applied for, the name and addresi of the Designated- intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

Link Intime India Private Limited

C -13, Pannalal Silk Mills Compound, L .B. S. Marg, Bhandup (West),Murnbai 400 078, Maharashtra, India
Tel: +91 22 6171 5400, Fax: +91 22 2596 0329, E-maii: pnbhfl.ipo@linkintime.co.in
Investor Grievance Email: pnbhfl.ipo@linkintime.co.in. Website: www.linkintime.co.in
Contact Person: Shanti Gopal-Krishnan, SEBI Registration No.: INR0000004058

Place: New Delhi

Date: November 4, 2016

For PNB HOUSING FINANCE LIMITED
On behalf of Board of Directors
Sd/-
Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MAFKET PRICE OF THE EQUITY SHARES ON LISTING OR. THE BUSINESS PROSPECTS ON PNB HOUSING FlNANCE LIMITED.

PNB Housing Finance IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in PNB Housing Finance IPO?

    Check the basis of allotment document above to know about how the shares are allocated in PNB Housing Finance IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is PNB Housing Finance IPO basis of allotment status?

    The PNB Housing Finance IPO basis of allotment (published above) tells you how shares are allocated to you in PNB Housing Finance IPO and category wise demand of IPO share.

    Visit the PNB Housing Finance IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is PNB Housing Finance IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in PNB Housing Finance IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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