HUDCO OFS: Government To Exercise Green Shoe Option For Additional 3.5% Stake
The government will exercise the green shoe option for an additional 3.5% stake sale in Housing and Urban Development Corp. through an offer for sale.
Accordingly, the total offer size will be over 14 crore equity shares —representing 7% of the total paid-up share capital, HUDCO said in an exchange filing on Wednesday.
Consequently, 1.4 crore shares would be reserved for allocation to retail investors, subject to receipt of valid bids, as part of the offer on Oct. 19.
The bid took place at the floor price of Rs 79 apiece, a discount of 12.17% on Tuesday's closing price.
The OFS was subscribed 2.1 times or 210.47% on its first day, reserved for non-retail investors.
The company's stock tumbled over 9% early on Wednesday, after the government said it would sell stake in the company. At least 12.1 lakh shares of the company changed hands in a pre-market large trade, according to Bloomberg data.
Shares of HUDCO closed 10.65% lower at Rs 80.34 apiece, ahead of the announcement on Wednesday, as compared with a 0.83% decline in the benchmark S&P BSE Sensex.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
