HUDCO share sale: Rs 870 cr bids on Day 1

New Delhi: Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government’s 8% share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. At the indicative price of Rs 45.03 apiece, the bids put in by institutional bidders are valued at over Rs 870 crore. “The OFS of HUDCO got good response on Day one. Issue subscribed nearly two times of base size by non-retail investors. Government has decided to exercise the green-shoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted. The government is selling up to 8% stake sale in HUDCO at a floor price of Rs 45 apiece. Bids would open for retail investors on Wednesday.