Hudco IPO subscribed 80 times

The initial public offer (IPO) of government-owned Housing and Urban Development Corporation (HUDCO), for which bidding opened on Monday, has been subscribed over 79.47 times. Qualified institutional investors bid more than 55.45 times for the portion reserved for them, while retail investors bid for 10.60 times their quota. Non-institutional investors subscribed more than 330 times their portion. The number of applications received was at 19,75,098. Subscription by Hudco employees was only 70 per cent of their reserved quota. The IPO is part of the Centre’s efforts to meet the disinvestment target. The Centre plans to divest 10 per cent stake in the company.