Hudco seeks bids from registrars to process IPO application

Preparing to hit the markets in the March quarter, state-owned housing major Hudco has invited applications from registrars for its IPO through which the Government will offload 10 per cent equity in the company.
Registrars are financial institution registered with market regulator Sebi and the stock exchanges and their responsibility lies in the processing of IPO applications.
The appointed registrar, for which applications have been invited by December 22, will facilitate the transfer of shares to successful bidders of the IPO as well as make allocation to anchor investors.
Sources said that the IPO is likely only in the January-March quarter.

The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. Government holds 100 per cent in the company.
Earlier in June, the Cabinet had cleared a 10 per cent initial public offering (IPO) of Hudco. The government also approved a price discount of up to 5 per cent on the issue price for retail investors and Hudco employees.
The proceeds from Hudco disinvestment will form part of the government's disinvestment kitty in the current fiscal. The government has budgeted to collect Rs 56,500 crore through minority stake sale in PSUs and strategic sale.

So far this fiscal, it has raised about Rs 23,500 crore via stake sale.