/ HUDCO IPO Oversubscribed By 3.01 Times On Day 2 Day 3 May See Further Rise ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 10 May 2017

On the third day of subscription for the Housing and Urban Development Corporation (HUDCO) IPO, the markets are expecting the further rise in the subscription. The issue is over-subscribed in the afternoon hours on the second day of subscription on Tuesday.  The IPO has issue size of 20,40,58,747 shares.

As per the data available with the National Stock Exchange (BSE), as of 1700 hours, the total bids received by the HUDCO IPO stands at 61,39,95,600. The total bids received at cut off prices stands at 23,26,08,000. The data shows that the issue got subscribed by 3.01 times.

The qualified institutional buyers reported subscription of 296%, Non-institutional investors reported subscription of 94%, Retail investors reported subscription of 412% and Employees of the company reported subscription of 21% on the second of subscription.

The IPO is following the book-building process wherein the price band is pegged at Rs 56 to Rs 60 per equity share.

The government intends to sell 20,40,58,747 shares to raise Rs 1224 Cr of funds from the capital markets. The investors need to apply for the minimum of one market lot which consists of 200 shares.

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