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HUDCO IPO oversubscribed 80 times on final day of offer

Retail investors portion was also oversubscribed 10.60 times

Press Trust of India  |  New Delhi 


The initial public offer (IPO) of state -owned Housing and Urban Development Corporation (HUDCO), which has seen a robust investor demand, was oversubscribed 79.49 times on the final day of offer on Thursday.

The IPO to raise Rs 1,224 crore received bids for 16,22,12,70,600 against the total issue size of 20,40,58,747 shares, data available with the till 19:15 hours showed.

The category reserved for (QIBs) was oversubscribed 55.45 times and non institutional investors a huge 330.36 times, sources said.

Retail investors portion was also oversubscribed 10.60 times.

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.

The company has appointed IDBI Capital Markets, Capital Markets, Nomura and Securities as the book running lead managers to the issue.

The of the company are proposed to be listed on as well as

Of the total outstanding loan of Rs 36,385 crore as on December 31, 2016, 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 was oversubscribed by a staggering 104.48 times.

First Published: Thu, May 11 2017. 23:44 IST