Government will sell its stake in this government company today, will get Rs 720 crore

Government will sell its stake in this government company today, will get Rs 720 crore

Institutional investors will be able to bid for the government’s stake in HUDCO today at a minimum price of Rs 45 per share. The government will get about Rs 720 crore from the sale of about 16.01 crore shares or 8 percent of the total.

HUDCO Steak Sale

The government is going to sell up to 8 percent stake in HUDCO. Institutional investors will be able to bid for the government’s stake in HUDCO today at a minimum price of Rs 45 per share. The government will get about Rs 720 crore from the sale of about 16.01 crore shares or 8 percent of the total.

The government is going to sell its stake of more than 5 percent or about 11.01 crore shares in HUDCO. The government will sell this stake through an offer for sale (OFS). There will also be an option to keep additional subscription in excess of 2.5 per cent or 5 crore shares.

HUDCO stake sale offer today

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), tweeted, “The government’s stake sale offer in HUDCO to non-retail investors will open on July 27. The second day will be for retail investors. The government will sell its 5.5 percent stake. Apart from this, there will also be a green shoe option of 2.5 percent additional stake sale.

Let us tell you that HUDCO was established on 25 April 1070. The government has already raised Rs 7,646 crore through minority stake sale. Of this, Rs 3,651 crore is from NMDC OFS and Rs 3,994 crore is from sale of SUUTI stake in Axis Bank.

Common investors will get a chance on the second day

Offer for sale will be open during July 27-28. Will open for retail investors on July 28. President Ram Nath Kovind approved the sale of HUDCO shares through the Ministry of Urban Development. According to the BSE filing, 5 crore shares will be sold on the second day.

Shares fell more than 2 percent

On Tuesday, the share of Housing and Urban Development Corporation Limited (HUDCO) is trading at Rs 46.05, down 2.44 percent on the BSE. On Monday, the stock closed at Rs 47.20, down 6.81 per cent. Rs 45 per share for OFS is 2.33 per cent lower.

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