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Hudco IPO subscribed 42 times till noon on last day

LiveMint logoLiveMint 11-05-2017 PTI

New Delhi: The initial public offer of state -owned Hudco, which has seen a robust investor demand, was subscribed 42 times by the late afternoon trade on the last day of issue today.

The IPO received bids for over 865 crore shares against the total issue size of 20.4 crore shares, data available with the NSE till 1430 hours showed.

Housing and Urban Development Corporation (Hudco), a ‘Miniratna’ firm which provides loans for housing and urban infrastructure projects, will close the IPO today where the government is offering 204,058,747 shares for sale.

Hudco has fixed the price band of Rs56-60 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. Out of total outstanding loan of Rs36,385 crore as on 31 December 2016, Hudco has financed 69% to urban infrastructure projects and 31% to the housing sector.

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