HUDCO to list shares on May 19

Shares of state-run HUDCO, which recently concluded its Rs 1,224 crore initial public offer, will make stock market debut on May 19.

The IPO of Housing and Urban Development Corporation (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 sources, the company will list its shares on the stock exchanges - BSE and NSE - on May 19.

The price band for the offer, open from May 8-11, was set at Rs 56-60 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 Rs 56-60 per equity share.

Of the 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.

Earlier this year, the IPO of Avenue Supermarts, the operator of retail chain D-Mart was subscribed by a staggering 104.48 times.