BackHudco IPO subscribed 3 times on Day 2
The Hudco IPO received bids for 61,39,95,600 shares against the total issue size of 20,40,58,747 shares
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New Delhi: The initial public offer of state-owned HUDCO was subscribed 3 times on the second day of offer on Tuesday.
The IPO received bids for 61,39,95,600 shares against the total issue size of 20,40,58,747 shares, data available with the NSE showed.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.96 times and non institutional investors 94%. Retail investors segment was oversubscribed 4.12 times.
Housing and Urban Development Corporation (Hudco), a ‘Miniratna’ firm which provides loans for housing and urban infrastructure projects, will close the IPO on 11 May where the government is offering 204,058,747 shares for sale.
Hudco has fixed the price band of Rs56-60 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 Rs36,385 crore as on 31 December 2016, Hudco has financed 69% to urban infrastructure projects and 31% to the housing sector.
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