HUDCO lists at a 22.4 per cent premium
By Yogesh Supekar |
5/19/2017 10:15 AM Friday
HUDCO listed on BSE at Rs 73.45 per share at a premium of 22.41%. The stock has been surging in first few minutes of opening on the bourses.
The stock, as of 10.00 hours on BSE, is trading at Rs 76.25 per share, up by Rs 16.25 per share or 27.08% as against its issue price of Rs 60 per share. However, the stock is trading up by Rs 2.8 per share or 4.63% as against its opening price of Rs 73.45 per share.
HUDCO pre-open indicative price stood at Rs 73.45 per share as against issue price of Rs 60 per share.
Incorporated in 1970, Housing Development Corporation Ltd (HUDCO) is a wholly owned Government company.
HUDCO offers loans for housing projects, such as urban and rural housing, co-operative housing, community toilets, slum upgradation, staff housing, repairs and renewals, private sector projects, land acquisition, and housing programs.
The stated objective of the issue is to carry out the disinvestment of 200,190,000 equity shares by the selling shareholder constituting 10% of the company’s pre-Offer paid up Equity Share capital Company.
The issue size was Rs 1224.35 cr with face value of share being Rs 10 per share and the upper band price being Rs. 60 per share.
The lot size was 200 shares per lot.
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