HUDCO's IPO subscribed 58% till 4:15 pm
From a total issue size of 20,40,58,747 shares, the issue received bids for 8,73,93,000 shares, according to data available on NSE’s website.
The initial public offering of state-run Housing and Urban Development Corporation (HUDCO) was subscribed 58 percent or 0.58 times as of 4:15 pm on Monday.
From a total issue size of 20,40,58,747 shares, the issue received bids for 11,89,52,200 shares, according to data available on NSE’s website.
The company is looking to raise over Rs 1,120 crore through the IPO and is a part of government’s efforts to meet its disinvestment target.
The price band has been set in the range of Rs 56-60 per share. The issue comprises sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS). It will close on May 11.HUDCO is a wholly-owned government company which provides loans for housing and urban infrastructure projects in India. As of September 30, the total assets under management (AUMs) are to the tune of Rs 36,110 crore, which includes housing finance assets of Rs 11,290 crore and urban infrastructure finances of Rs 24,820 crore.