HUDCO IPO: Allotment, Basis of Allotment, Listing Date And Other Details

The initial public offer (IPO) of Housing and Urban Development Corp Ltd (HUDCO), which ended on Thursday, got an overwhelming response from the investors with nearly 80 times subscription. As against the 20.40 crore shares on offer, bids were received for 1,623 crore shares. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 55.45 times and non-institutional investors a huge 330.36 times. Retail investor's portion also got a good response with 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.