<div>PNB Housing Finance Ltd has hired banks including Barclays, JPMorgan and Morgan Stanley for a 25 billion rupees (about $385 million) initial public offering, IFR reported on Friday, citing two sources close to transaction.</div><div> </div><div>Indian investment banks Kotak and JM Financial will also advise PNB Housing in the planned IPO, slated for the first half of 2016, IFR, a Thomson Reuters publication, said.</div><div> </div><div>State-run Punjab National Bank owns a 51 percent stake in PNB Housing, while Carlyle Group owns the remainder.</div>
