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HONG KONG, Oct 18 (Reuters) - 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). ($1 = 66.5919 Indian rupees) (Reporting by S. Anuradha of IFR; Writing by Elzio Barreto; Editing by Michael Perry)