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Hudco IPO subscribed 1.43 times in afternoon session of day 2

LiveMint logoLiveMint 09-05-2017 PTI

New Delhi: State-owned Hudco’s initial public offer to raise Rs1,224 crore was subscribed 1.43 times in the afternoon session on the second day of offer on Tuesday.

The IPO received bids for 29,24,05,600 shares against the total issue size of 20,40,58,747 shares, translating into an oversubscription of 1.43 times, data available with the NSE till 1pm showed.

Housing and Urban Development Corp. (Hudco), a miniratna firm which provides loans for housing and urban infrastructure projects, will close the IPO on 11 May where the government is offering 204,058,747 shares for sale.

Hudco has fixed the price band of Rs 56-60 per equity share. The company has appointed IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities as the book running lead managers to the issue. The shares of the company are proposed to be listed on BSE as well as NSE.

Also Read: Hudco IPO subscribed 63% on day 1

Out of total outstanding loan of Rs 36,385 crore as on 31 December 2016, Hudco has financed 69% to urban infrastructure projects and 31% to the housing sector.

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