PNB NSE 1.98 % MetLife India Insurance Company has filed the draft papers with
capital markets regulator Sebi to float an initial public offering (IPO).
The offer is of up to 49,58,98,076 shares of
face value of Rs 10 each by way of an offer for sale by the selling
shareholders.
The offer comprises of up to 8,04,95,242 shares
by PNB, 12,90,36,281 shares by Metlife International Holdings LLC, 10,76,11,370
shares by M Pallonji & Company, 7,66,59,064 shares by ELPRO International,
1,91,64,766 shares by IGE (INDIA), 7,66,41,892 shares by J&K Bank and up to
62,89,461 shares by
Manimaya Holdings, as per the Draft Red Herring
Prospectus ( DRHP) filed with Sebi.
The shares are proposed to be listed on the
stock exchanges.
The listing of shares will enhance the "PNB
MetLife" brand name and provide liquidity to the existing shareholders,
the draft paper said.
The company will not receive any proceeds from the offer.
Kotak Mahindra Capital Company, DSP Merrill Lynch, Citigroup Global Markets India and PNB
Investment Services will manage the issue.
Sandip Ginodia , CEO
ALTIUS INVESTECH PVT LTD
We deal in over 60 unlisted companies with 15 years of experience
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .
Email : ginodiasandip1@gmail.com
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