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HUDCO IPO oversubscribed 42 times on last day

Press Trust of India / New Delhi 11 May 17 | 03:46 PM

The initial public offer of a state -owned Housing and Urban Development Corporation (HUDCO), which has seen a robust investor demand, was oversubscribed 42 times by the late afternoon trade on the last day of issue on Thursday. 

The IPO received bids for over 865 crore shares against the total issue size of 20.4 crore shares, data available with the NSE till 2.30 pm showed.

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HUDCO, a 'Miniratna' firm which provides loans for housing and urban infrastructure projects, will close the IPO on Thursday where the government is offering 2,04,058,747 shares for sale.

HUDCO has fixed the price band of 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.

Out of 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.

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