3 months Free Trail

Get world class research developed by an in house team of professionals backed with strong institutional support. With reports that span across time horizons, styles and easily actionable strategies, you are never too far from executing a winning trade.

Key features and benefits of Registeration :
  • My Portfolio : Access 360° View not only of your Portfolio with Emkay, but all your Investment Portfolios
  • Emkay Research : Get Emkay's exclusive Research Reports & Trading Ideas.
  • My Watch list : Track your favorite stocks, Derivatives, Currencies, Commodities, Mutual funds on the go
  • Markets : Grab Stock Market Information at your fingertips
  • News & Announcements : Stay Updated 24x7 with news that matters.
  • Alerts : Get Alerts on Emkay Research, Trading Ideas, news on your portfolio holdings & watchlist

Forgot password

Change password

Forgot Customer Code

Hudco files draft papers with Sebi for IPO

Share Source By

Dion Global

09 Jan 2017

Hudco has filed draft papers with capital markets regulator Sebi to raise funds through an initial share sale as part of the governments disinvestment drive, reported PTI.

The initial public offer will see sale of 200,190,000 equity shares --10 per cent stake -- by the central government through an offer for sale (OFS)route, as per the Draft Red Herring Prospectus (DRHP).

A discount of up to 5 per cent on the issue price for retail investors and Hudco employees would be given.

The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. Government holds 100 per cent stake in the company.

IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage the companys public issue.

The proceeds from Hudco disinvestment will form part of the governments disinvestment kitty in the current fiscal.

The government has budgeted to raise Rs 56,500 crore through minority stake sale and strategic sale in PSUs. Of this, Rs 36,000 crore is to come from minority stake sale in PSUs and another Rs 20,500 crore from strategic stake sale.