Housing and Urban Development Corporation (HUDCO) ends with 21 percent gain
Updated on 19 May 2017
Disclaimer: Information presented on this site is a guide only. It may not necessarily be correct and is not intended to be taken as financial advice nor has it been prepared with regard to the individual investment needs and objectives or financial situation of any particular person. Stock quotes are believed to be accurate and correctly dated, but www.stockmarketindian.com does not warrant or guarantee their accuracy or date.
www.stockmarketindian.com takes no responsibility for any investment decisions based on recommendations provided on website.
Financial contents like Technical charts, historical charts and quotes are taken from NSE and Yahoo sites.
Note - All quotes are delayed by 15 minutes and unless specified.

Google Adsense Ads are posted on every page of the website so visitors clicking on Ads and going to those links and carrying any financial deal is not at all related to www.stockmarketindian.com and any financial deal should be done on their own sole responsibility.
Please read our before using any material or advice given at www.stockmarketindian.com

Your place to Learn and Earn
Latest posts
Shares of Housing and Urban Development Corporation (HUDCO) listed at Rs 73.45, a 22% premium against its initial public offer (IPO) price of Rs 60 on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 73.

The stock settled at Rs 72.50, a 21% premium to its issue price, and 1.3% lower against its opening price. In intraday trade, the stock rallied as much as 30% to Rs 77.80 against its IPO price.

The discount of Rs 2 per share to the issue price of Rs 60 was offered to retail and eligible employees.

The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor's category was subscribed about 11 times.

The state-run HUDCO, which provides loans for housing and urban infrastructure projects in India, recently raised over Rs 1,120 crore as a part of its IPO, assisting the government's efforts to meet its disinvestment target.

The company enjoys strong relationship with the state governments and their agencies and finances various central and state government schemes in housing and urban infrastructure development.  In most cases these loans are subject to repayment through allocations in state government budgets or recourse to alternate sources of revenue, which reduces the recovery risk of loans to state governments and their agencies.