Hudco to make stock market debut today
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New Delhi: Shares of state-run Housing and Urban Development Corporation (HUDCO), which recently concluded its Rs1,224 crore initial public offer (IPO), will make stock market debut on 19 May.
The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor’s category was subscribed about 11 times.
According to people aware of the development, the company will list its shares on the stock exchanges—BSE and NSE—on 19 May. The price band for the offer, open from 8-11May, was set at Rs56-60 a share. IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities were the book running lead managers to the issue.
Hudco, a ‘Miniratna’ firm which provides loans for housing and urban infrastructure projects has fixed the price band at Rs56-60 per equity share. Of the 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.