Narendra Modi Government May Stake Sell In (HUDCO) Housing & Urban Development Corporation | Central government will sell 8% stake in government company HUDCO, 16 crore shares will be sold in offer for sale

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  • Narendra Modi Government May Stake Sell In (HUDCO) Housing & Urban Development Corporation

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The central government will sell its 8% stake in the state-run Housing and Urban Development Corporation Limited (HUDCO). The sale of 16 crore shares will be done through Offer for Sale (OFS). For this, the price of one share has been kept at Rs 45. This information was given in the regulatory filing.

Common investors will get a chance on the second day
According to the report, the offer for sale will be open during July 27-28. The open offer for non-retail investors will open tomorrow. While the second day will be open for retail investors. Giving information on social media, the Secretary of DIPAM said that the government will invest 5.5% stake in it. Will sell shares with additional 2.5% stake through green shoe option.

11 crore shares will be sold on July 27
President Ram Nath Kovind approved the sale of shares of HUDCO through the Ministry of Urban Development. On the first day i.e. July 27, 11.01 crore shares will be sold, for which the face value per share will be Rs 10. This will be around 5.5% stake of the government. According to the BSE filing, 5 crore shares will be sold on the second day.

HUDCO’s stock closed at Rs 47.30, down 5% from Friday’s closing price.

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