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HUDCO Files Draft Papers With SEBI For IPO

HUDCO Files Draft Papers With SEBI For IPO:

As intimated investors that HUDCO is planning for IPO and can soon file for IPO now finally it has filed its paper with SEBI for IPO. State-run Hudco has filed draft papers with capital markets regulator Sebi to raise funds through an initial share sale as part of the government’s disinvestment drive.

The initial public offer will see sale of 200,190,000 equity shares –10 per cent stake — by the central government through an offer for sale (OFS)route, as per the Draft Red Herring Prospectus (DRHP).

A discount of up to 5 per cent on the issue price for retail investors and Hudco employees would be given.

The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. Government holds 100 per cent stake in the company.

IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage the company’s public issue.

The proceeds from Hudco disinvestment will form part of the government’s disinvestment kitty in the current fiscal.

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