HUDCO IPO To Make A Debut On May 8 With Price Band Of Rs 56 To 60

Housing and Urban Development Corporation Limited (HUDCO), a Miniratna (Category-I Public Sector Enterprise) company of the Government of India is going to raise funds through the way of Initial Public Offerings (IPO).

The company is offering 204,058,747 equity shares for sale for cash. The offer is scheduled to open on Monday, May 08, 2017 and close on Thursday, May 11, 2017.

The offer is being made through the book-building process wherein price band is set at Rs 56 to Rs 60 per equity share. The floor price is 5.60 times of the face value and the cap price is 6.00 times of the face value. The market lot for the IPO is set at 200 equity shares.

Bids will not be accepted on May 10, 2017, being a public holiday. At least 10% of the post-offer paid-up equity share capital of the company will be offered to the public. 50% of the net offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs).

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