Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 October, 2020 10:54 IST
HUDCO IPO over-subscribed by more than 79 times
Source: IRIS | 15 May, 2017, 08.55AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

The HUDCO Initial Public Offering (IPO) saw an exceptional level of interest and the Issue as a whole was oversubscribed by more than 79 times. Bids worth Rs 970 billion were received for an issue size of Rs 12 billion. This is the highest level of oversubscription witnessed in a divestment by Government of India through IPO route. The HUDCO IPO is the first IPO by a Central Public Sector Enterprise (CPSE) under disinvestment since April 2012.

The Qualified Institutional Buyers (QIB) category was subscribed more than 55 times with about 38% demand from Foreign Institutional Investors (FIIs). Non-institutional category was subscribed more than 330 times. The retail category also saw a strong demand of more than 10 times.

The IPO received more than 20 lakh applications, which is the highest number of applications received in an IPO post Security and Exchange Board of India (SEBI) making mandatory use of Applications Supported by Blocked Amount (ASBA) mode for all categories of investors.

The HUDCO IPO was open for subscription from May 8 to May 11. The price band was fixed at Rs. 56-Rs. 60 per equity share of the face value of Rs.10, with a discount of Rs. 2 for retail investors and the employees of the Company. A total of 20.4 crore shares were offered by Government of India including employee reservation of 38.7 lakh shares and 50% of the net offer being reserved for QIBs.

 Post Comment
Name Email
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer