- HUDCO's Rs 1,200-crorepublic offer will be open from May 8 to May 11
- Government will divest 10% stake in HUDCO through IPO
- Retail investors, employees to get Rs 2 discount on offer price of shares
The category reserved for qualified institutional buyers (QIBs) was oversubscribed 55.45 times and non institutional investors a huge 330.36 times, sources said. Retail investors portion was also oversubscribed 10.60 times.
Housing and Urban Development Corporation (HUDCO), a 'Miniratna' firm which provides loans for housing and urban infrastructure projects has fixed the price band at Rs 56-60 per equity share. The company has appointed IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities as the book running lead managers to the issue.
The shares of the company are proposed to be listed on BSE as well as NSE. Of the total outstanding loan of Rs 36,385 crore as on December 31, 2016, HUDCO has financed 69 per cent to urban infrastructure projects and 31 per cent to the housing sector. Earlier this year, the IPO of Avenue Supermarts, the operator of retail chain D-Mart was oversubscribed by a staggering 104.48 times.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)