Housing and Urban Development Corporation Ltd (HUDCO), the much-awaited initial public offer (IPO) which received an overwhelming response from the investors with a subscription of 80 times till its last day of subscription on May 11, 2017.
As against the 20.40 crore shares on offer, bids were received for 1,623 crore shares. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 55.45 times and non-institutional investors a huge 330.36 times. Retail investor’s portion also got a good response with 10.79 times subscription.
Investors are now eagerly waiting for the allotment and the basis of allotment of the issue, after strongly appreciating the IPO.
Alankit Assignments Limited – the registrar of the issue, is responsible for the allotment of shares and as well as the refund process. The refund process will start once the basis of allotment is finalised.
The credit of IPO shares and the refund process will likely to happen on or by May 18, into the applicant’s demat account, reported a leading English daily.
Post this, the final step is the listing in the IPO process, which may happen around May 19. The IPO shares are set to be listed on the both the exchanges, National Stock Exchange and Bombay Stock Exchange.
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