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Preparing to hit the markets in the March quarter, State-owned housing major Hudco has invited applications from registrars for its IPO through which the government will offload 10 per cent equity in the company.
Registrars are financial institution registered with market regulator SEBI and stock exchanges and their responsibility lies in the processing of IPO applications.
The appointed registrar, for which applications have been invited by December 22, will facilitate the transfer of shares to successful bidders of the IPO as well as make allocation to anchor investors.
Govt holds 100%
Sources said the IPO is likely only in the January-March quarter.
The paid-up capital of Housing and Urban Development Corporation is ₹2,001.90 crore as on March 2016. Government holds 100 per cent in the company.
Earlier in June, the Cabinet had cleared a 10 per cent IPO of Hudco.
The government also approved a price discount of up to 5 per cent on the issue price for retail investors and Hudco employees.
The proceeds from the Hudco disinvestment will form part of the government’s disinvestment kitty in the current fiscal.
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