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India's HUDCO IPO to raise up to $189 mln fully subscribed
May 9, 2017 / 6:48 AM / 4 months ago

India's HUDCO IPO to raise up to $189 mln fully subscribed

MUMBAI, May 9 (Reuters) - Indian state-run Housing and Urban Development Corp Ltd’s (HUDCO) initial public offering of shares to raise up to 12.2 billion rupees ($189 million) was fully subscribed on the second day of the sale on Tuesday, stock exchange data showed.

The government, which fully owns HUDCO, is selling an about 10 percent stake in a price range of 56 to 60 rupees a share in the IPO that closes on Thursday.

The IPO is the first by a state-run company since NBCC (India) Ltd’s listing in 2012. ($1 = 64.5300 Indian rupees) (Reporting by Swati Bhat; Editing by Devidutta Tripathy)

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