Millennium Post

Hudco IPO oversubscribed 80 times on final day of offer

The initial public offer of state -owned HUDCO, which has seen a robust investor demand, was oversubscribed 80 times on the final day of offer on Thursday. The IPO to raise Rs 1,224 crore received bids for 16,22,12,70,600 shares against the total issue size of 20,40,58,747 shares, data available with the NSE till 1915 hrs showed. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 55.45 times and non institutional investors a huge 330.36 times, sources said. Retail investors portion was also oversubscribed 10.60 times. Housing and Urban Development Corporation (HUDCO), a 'Miniratna' firm has fixed the price band at Rs 56-60 per equity share.
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