HUDCO IPO oversubscribed 1.43 times in afternoon session

State-owned HUDCO's initial public offer to raise Rs 1,224 crore was oversubscribed 1.43 times in the afternoon session on the second day of offer today.
The IPO received bids for 29,24,05,600 shares against the total issue size of 20,40,58,747 shares, translating into an oversubscription of 1.43 times, data available with the NSE till 1300 hours showed.
Housing and Urban Development Corporation (HUDCO), a 'Miniratna' firm which provides loans for housing and urban infrastructure projects, will close the IPO on May 11 where the government is offering 204,058,747 shares for sale.
HUDCO has fixed the price band of Rs 56-60 per equity share.

The company has appointed IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities as the book running lead managers to the issue.
The shares of the company are proposed to be listed on BSE as well as NSE.
Out of total outstanding loan of Rs 36,385 crore as on December 31, 2016, HUDCO has financed 69 per cent to urban infrastructure projects and 31 per cent to the housing sector.