Through the OFS, the Government of India (the 'promoter') had proposed to sell up to 7,00,66,500 equity shares (representing 3.50% stake), with an option to sell an additional 3.50% stake or 7,00,66,500 equity shares in case of oversubscription. The floor price for the sale had been set at Rs 79.

With the promoter exercising the oversubscription option to the extent of up to 7,00,66,500 equity shares (representing 3.50% stake), the total OFS size (base size + green shoe) aggregated to 14,01,33,000shares, representing 7% of outstanding equity shares of the company, the value of which (at floor price) aggregates to Rs 1,107.05 crore.

The Government of India held 81.81% stake in HUDCO as of 30 September 2023.

The OFS opened on Wednesday (18 October 2023) for non-retail investors, while both retail as well as non-retail investors were allowed to subscribe on Thursday (19 October 2023).

On Thursday (T+1 day), the OFS received subscription for 65,93,628 shares as against the total retail category offer size of 1,40,13,300 shares. The non-retail portion received bids for 58,94,719 shares while the retail portion received bids for 6,98,909 shares.

The shares in the OFS were allotted at the price of Rs 79 apiece.

Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.

The scrip slipped 1.67% to end at Rs 79 on the BSE today.