Day 3 of HUDCO IPO: It is time to go high, higher

As the third day to subscribe for the Housing and Urban Development Corporation (HUDCO) IPO kicks off, the markets are expecting significant raise in the subscription of this government run enterprise's IPO. The issue got itself over-subscribed on Tuesday itself.  HUDCO IPO has issue size of 20,40,58,747 shares.

As per the data available with the National Stock Exchange (BSE), as of 1700 hours of Tuesday, 61,39,95,600 total bids were received towards the IPO. NSE data reveals,  total bids received at cut off prices at 23,26,08,000. It projects the issue got subscribed by 3.01 times.

The qualified institutional buyers reported subscription of 296%, Non-institutional investors reported subscription of 94%, Retail investors reported subscription of 412% and Employees of the company reported subscription of 21% on the second of subscription, as per NSE data of Tuesday evening.

Government intends to sell 20,40,58,747 shares to raise Rs 1224 Cr of funds from the capital markets. Retail investors need to apply for the minimum of one market lot which consists of 200 shares.

HUDCO is a government owned company and it disburses loans for the housing and development projects in the country.