HUDCO IPO a big hit with investors, oversubscribed 80 times

The much-awaited initial public offer (IPO) of Housing and Urban Development Corporation Ltd (HUDCO) received an overwhelming response from the investors with an oversubscription of 80 times by the last day of subscription on May 11, 2017.

As against the 20.40 crore shares on offer, bids were received for 1,623 crore shares. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 55.45 times and the non-institutional investors' category was oversubscribed by a huge 330.36 times. Retail investor's portion also got a good response with 10.79 times oversubscription.

Investors are now eagerly waiting for the allotment and the basis of allotment of the issue, after responding to the IPO overwhelmingly.

Alankit Assignments Limited - the registrar to the issue, is responsible for the allotment of shares and as well as the refund process. The refund process will start once the basis of allotment is finalised. The credit of IPO shares into the allottees' demat accounts and the refund process will likely happen on or before May 18, reported a leading English daily.

The shares will be listed on both the exchanges, National Stock Exchange and Bombay Stock Exchange, and the listing may happen around May 19.