Housing and Urban Development Corporation Ltd (HUDCO) IPO issue will be open for bidding from Monday, May 08, 2017 and close on Thursday, May 11, 2017. price band is set at Rs 56 to Rs 60 per equity share. The company is offering 204,058,747 equity shares for sale for cash.
The Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in India. One of the public sector undertakings, it is wholly owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation. It is mandated with building affordable housing and carrying out urban
HUDCO is a wholly-owned Government company Founded 1970 with more than 46 years” experience in providing loans for housing and urban infrastructure projects in India.
The initial public offer will comprise sale of 204,058,747 equity shares 10 per cent stake by the central government through an offer for sale (OFS) route.
A discount of up to 5 per cent on the issue price would be given to retail investors and Hudco employees.
The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. The government holds 100 per cent stake in the company.
Bankers: IDBI Capital Markets & Securities Ltd, ICICI Securities Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd and SBI Capital Markets Ltd are managing the issue.
As on September 2016, Hudco’s total outstanding loan portfolio stood at Rs 36,119 crore, with 31.3% of this share going to the housing finance segment and the balance to urban infrastructure finance.
For the six months ended September 2016, Hudco reported a consolidated profit after tax of Rs 520.17 crore on consolidated revenue (operations) of Rs 1,700.14 crore. For 2015-16, Hudco reported consolidated revenue of Rs 3204.81 crore and profit after tax of Rs 1,076.86 crore.
Its top line has risen at a rate of 3.76% a year from 2011-12 to 2015-16, as per the prospectus.
Dr. Medithi Ravi Kanth, IAS(r).(Chairman & managing director)
HUDCO IPO Issue Detail:
Issue Open: The issue opens on May 8, 2017 and closes on May 11, 2017
Issue Type: Book Built Issue IPO
Price Band: Rs. 56 – Rs. 60 Per Equity Share
Lot Size: 200 equity shares and in multiple thereafter
Issue Size: 20,01,90,000 Equity Shares of Rs 10 aggregating up to Rs 2,001.90 Cr
Mode of Payment: ASBA is mandatory (cheques will not be accepted)
Listing: BSE, NSE