Govt to sell up to 8% stake in HUDCO via OFS on July 27-28, floor price Rs 45 per share

On Day 1, that is July 27, HUDCO aims to sell up to 11,01,04,500 equity shares of face value of Rs 10 each, representing 5.5 percent of the total paid-up equity share capital of the company.

HUDCO may also use the option to additionally sell 5,00,47,500 (2.5 percent) equity shares of the company (the "Oversubscription Option") on Day 2 of the OFS, the BSE filing noted.

"And in event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will represent 16,01,52,000 (8 percent) of the outstanding equity shares of the Company," it added.

Notably, the OFS shall take place during trading hours on a separate window of the Stock Exchanges on July 27, 2021 ("T" day) and July 28, 2021 ("T+1" day), from 9:15 a.m. to 3:30 p.m. (Indian Standard Time) on both days.

"Non-Retail Investors can place their bids only on the T day, that is July 27. While placing their bids the non-retail Investors may indicate their willingness to carry forward their un-allotted bids to T+1 day, that is July 28, "for allocation to them in the unsubscribed portion of Retail Category", the regulatory filing stated.

Earlier today, the price of HUDCO shares closed at Rs 47.30, down over 5 percent against the previous day's close.