For HUDCO IPO allotment, it is all about your luck this afternoon as lottery will decide your fate

The long wait to check your allotment status for HUDCO IPO is about to get over this afternoon as Pune-based Alankit Assignments Limited is expected to come up with the allotment status for the retail investors on its website by then. At 1110 hours on Thursday, logging into the website of Alankit where an external link has been put up, one can read, 'IPO Allotment Is In Process' and no further information.

It was earlier thought that the investors will get to know their fate on Wednesday evening but now that has been spiralled to Thursday afternoon. Alankit officials could not be reached for their comments on this. So keep your fingers crossed and keep logging into www. alankit.com and then click on HUDCO Allotment Status tab on the top of the home page.
  
Alankit is supposed to take the help of a 'lottery' to decide the allotments for the HUDCO shares--so it is going to be a pure game of luck as the retail category of the IPO was subscribed by over 10 multiplications. The shares of HUDCO will be listed on the NSE and BSE on Friday and market observers believe those will list with a premium. The IPO had issue size of 20,40,58,747 shares.

Against the 20.40 crore shares on offer by the government of India enterprise, it has been learnt that bids were received for 1,623 crore shares. The category reserved for qualified institutional buyers was oversubscribed 55.45 times at the end of the last day of filing to subscribe for the IPO. The non-institutional investors category saw a huge 330.36 times subscription while retail investors' bracket had received a good response with 10.79 times subscription,

The IPO is following the book-building process wherein the price band is pegged at Rs 56 to Rs 60 per equity share.