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PSUs Can Also File DRHP For IPO By Next Week

PSUs Can Also File DRHP For IPO By Next Week:

As lot of companies are filling their Draft Red Herring Prospectus some Public Sector Undertakings (PSUs) are also expected to file their draft papers with market regulator SEBI by next week.

As per sources three public-sector undertakings, including Cochin Shipyard, Housing and Urban Development Corporation (Hudco) and Hindustan Aeronautics (HAL) are expected to file their papers with SEBI by next week.

The Centre could raise about Rs 350 crore via 10% stake sale in the ship building and maintenance business of Cochin Shipyard IPO, the first PSU to be listed after a gap of more than three years, in the March quarter of FY17. It will be followed by listing of the Housing and Urban Development Corporation (Hudco).

The Centre plans to sell 10% in Hudco to raise nearly Rs 1,500 crore by diluting 10% stake in the techno-financial institution engaged in the financing and promotion of housing and urban infrastructure in the country.

While Cochin Shipyard and Hudco listing might happen in the current financial year, the planned 10% government stake sale via IPO of military plane maker Hindustan Aeronautics (HAL) to raise nearly Rs 2,000 crore, might spill over to early FY18.

Market Update:

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Now GreenSignal Bio Pharma IPO bidding has been withdrawn from market due to lack of response.

After GreenSignal Bio Pharma IPO, Sheela Foam Ltd IPO has been able to subscribe fully on last day and has given good return on listing day. While Laurus Labs IPO also subscribe successfully. Now Laurus Labs IPO Allotment and Listing will be in process.

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