PNB HFL Share – Should you invest in IPO ?

PNB HFL  Share – Should you invest in IPO  ? By Suresh KP

PNB HFL IPO Review - Should you invest?

 Delhi based, PNB HFL IPO would open for subscription on 25th October, 2016.

PNB HFL offers housing loans to individuals and corporates. Its revenues grown by 5.8 times in last 5 years. It earned profits over 12% last year. It is growing at 55% CAGR in last  5 years.

Issue Details

Issue date

Issue opens 25-Oct-16

Issue closes 27-Oct-16

Issue details

Price band (Rs.) 700-750

FV (Rs.) 10

Fresh issue (mn. shares)* 165.5

OFS (mn. shares) nil

Issue size @ Rs750 (Rs.bn.) 30.0

Offer reservation (of net issue) (%)

QIB 50%

Non-institutional Not less than 15%

Retail Not less than 35%

Key Operating Metrics (FY16)

EPS (Rs.) 25.7

BVPS (Rs.) 169.1

RoE (%) 17.5

RoA (%) 1.3

CAR (%) 12.7

CAR (Tier 1) (%) 9.0

GNPAs (%) 0.2

PCR (%) 36.2

Pre and post-issue networth calculations

FY16 Paid-up equity (Rs mn) 1,269

O/s shares (mn) 127

Issue price (Rs) 750

Fresh issue of shares (mn) 40

Fresh equity to be raised (Rs mn) 30,000

Post-issue paid-up capital (Rs mn)* 1,669

Post-issue o/s shares (mn) 167

FY16 networth (Rs mn) 20,190

Post-issue networth (Rs mn) 50,190

FY16 ABVPS (Rs) 166

Post-issue ABVPS (Rs) 298

Post-issue P/ABV (x) 2.5

Source: Company, IDBI Capital Research

*At upper price band

For more

Share: