- The initial public offer of HUDCO ended on Thursday
- Bids were received for 1,623 crore shares
- Retail investor's portion got 10.79 times subscription
The strong response to HUDCO IPO was partly due to the fact that there was no issue of new shares, thus no dilution of earnings, said Arun Kejriwal, founder of Kejriwal Research & Investment Services.
After such a strong response to the IPO, investors would be eager to know about allotment and the basis of allotment of the issue.
Registrar of the issue- Alankit Assignments Ltd- is responsible for the allotment of IPO shares and refund process. The allotment process usually takes two weeks from the date of closing of the issue. Although the basis of allotment is net yet finalized, it may be out by May 17.
Investors can check details of their application like bid quantity, price, number of shares allotted on the Bombay Stock Exchange website.
Once the basis of allotment is finalized, the refund process will start. The refund process and credit of IPO shares to the applicant's demat account will happen on or by May 18.
After allotment, the final step in the IPO process is listing, which in the case of HUDCO is likely to happen around May 19, 2017. HUDCO share will be listed both on National Stock Exchange and Bombay Stock Exchange.