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HUDCO IPO To Launch Soon SEBI Approved It

HUDCO IPO To Launch Soon SEBI Approved It :

As told investors that HUDCO can be soon launched in market. Now as per latest update State-run Housing and Urban Development Corporation (HUDCO) has received the Securities and Exchange Board of India’s (Sebi’s) approval 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.

Hudco had filed draft papers with Sebi in January and got the markets watchdog’s “observation” on March 10, which is necessary for any company to launch a public offer.

Market Update:

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Now Music Broadcast Ltd IPO (MBL IPO) bidding is over now. Now Music Broadcast IPO Allotment and Listing has been complete now.  While Avenue Supermarts Ltd IPO (DMart IPO) bidding also closed. Now Avanue Supermarts (Dmart) IPO Allotment and Listing also completed.

Grey Market Premium (GMP) of CL Educate IPO (CLEL IPO) is still now active. While Grey Market Premium (GMP) of Shankara Building Products Ltd (SBPL) IPO is trading between Rs 138 – Rs 140 per equity share.

Now CL Educate (CLEL) IPO bidding is active between March 20, 2017 – March 22, 2017. While Shankara Building Products Ltd IPO (SBPL IPO) bidding is active from 22 March 2017 – 24 March 2017. Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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    Pl. inform – Grey market premium of all coming new IPO during May, 17 to March, 18.

    1. Sure will be sharing once the IPO information will be received you can subscribe to our updates to keep yourself updated

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