HUDCO's debut on exchanges witnesses 21.5 pct premium at Rs. 73.55

After witnessing a bumper subscription, shares of the government-owned Housing and Urban Development Corporation (HUDCO) got listing at 21.5 percent premium at Rs. 73.55 on the exchanges.

The Rs. 1,200 crore initial public offering of HUDCO had received bids worth Rs. 97,000 crore, thereby recording the highest oversubscription in any PSU disinvestment.

Being the first IPO of a Central Public Sector Enterprise since April 2012, HUDCO witnessed an exceptional level of interest by the consumers and was oversubscribed by more than 79 times.

The IPO, which opened on May 8 and closed on May 11, financed 69 percent to urban infrastructure projects and 31 percent to the housing sector.

The state-run HUDCO, which provides loans for housing and urban infrastructure projects in India, recently raised over Rs. 1,120 crores as a part of its Initial Public Offer (IPO), assisting the government's efforts to meet its disinvestment target.

As of September 30, the total Assets Under Management (AUMs) are to the tune of Rs. 36,110 crores, which includes housing finance assets of Rs. 11,290 crores and urban infrastructure finances of Rs. 24,820 crores.