HUDCO IPO oversubscribed 42 times on last day

The initial public offer of state -owned HUDCO, which has seen a robust investor demand, was oversubscribed 42 times by the late afternoon trade on the last day of issue on Thursday. The IPO received bids for over 865 crore shares against the total issue size of 20.4 crore shares, data available with the NSE till 1430 hours showed.

Housing and Urban Development Corporation, a 'Miniratna' firm which provides loans for housing and urban infrastructure projects, closed the IPO on Thursday where the government was offering 204,058,747 shares for sale. It had fixed the price band of Rs 56-60 per equity share.