IPO Update: HUDCO IPO gets oversubscribed 42 times
DSIJ Intelligence / 11 May 2017
The initial offer received bids for over 865 crore shares, as per the data available on the NSE up to 1430 hours. The total issue size is 20.4 crore shares.
The much-talked about initial public offer of government-owned HUDCO has seen a robust investor demand, getting oversubscribed by 42 times on the last day of issue today.
The initial offer received bids for over 865 crore shares, as per the data available on the NSE up to 1430 hours. The total issue size is 20.4 crore shares.
HUDCO is a 'Miniratna' company that provides loans for housing and urban infrastructure projects.
The price band fixed for the IPO was Rs 56-60 per equity share, with IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities as the book running lead managers for the issue.
The healthy over-subscription for the IPO hints at decent listing gains for the state-owned financier.
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