Govt to sell 8% stake in Hudco via offer for sale; may get Rs 720 crore

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

The government will sell eight per cent stake in Housing and Urban Development Corporation (HUDCO) through an offer for sale (OFS) on Tuesday, and is expected to mop up about Rs 721 crore from the transaction.

The government’s offer to sell its 110 million shares or 5.5 per cent stake in the public sector enterprise would open for non-retail investors on Tuesday, and for retail investors on Wednesday, with an option to additional sell 2.5 per cent shareholding. The floor price for the sale has been set at Rs 45 a share, which is at a 5 per cent discount