Hudco's Rs 1,200-cr IPO to open May 8

Housing and urban infra projects lender plans to sell 204 mn shares in range of Rs 56-60 a share

Dr. Ravi Kanth Medithi, CMD, Hudco and Rakesh Kumar Arora, director finance, Hudco

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Ravi Kanth Medithi, CMD, Hudco, (left) and Rakesh Kumar Arora, director finance, Hudco

BS Reporter Mumbai

Last Updated : Apr 28 2017 | 12:22 AM IST

Housing and Urban Development Corporation (Hudco's) initial public offering (IPO) will hit the markets on May 8. The centre will dilute 10.13 per cent (204 million shares) stake in the housing and urban infrastructure financer in the IPO as a part of its 2017-18 disinvestment programme. The price band for the IPO has been set at Rs 56-Rs 60 per share. Retail investors and employees are being offered a discount of Rs 2 per share on the issue price.

At the top end of the price band, the centre will raise around Rs 1,200 crore. The issue will close on May

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