HUDCO IPO

Hello sir, I am Pranjal Kumar. I am from Mumbai. I want you to help me by giving me some information about the Housing & Urban Development Corporation Ltd. (HUDCO) Initial Public Offering (IPO). Can you give me some details about the IPO of it?

As you have asked about the Housing & Urban Development Corporation Ltd. (HUDCO) Initial Public Offering (IPO), I am giving you some information about it, check below for the details
Housing & Urban Development Corporation Ltd. (HUDCO) is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects throughout India.

HUDCO is offering secured, redeemable non-convertible debentures having a face value of Rs. 1000 each.
This tax free NCDs are bearing coupon rates of 7.02% and 7.39% for 10 yrs and 15 yrs respectively for other then retail category and 7.27% and 7.64% for 10 yrs and 15 yrs for retail category.

The base size of this offer is Rs. 500 crore with an option to retain over subscription up to the residual shelf limit of Rs. 1711.50 crore. Minimum application is to be made for 5 bonds and in multiple of 1 bond thereof, thereafter.

These bonds are available under demat and physical mode, but trading will take place in demat mode only. The Net Issue Proceeds as raised through each of the Tranche are proposed to be utilized to finance the projects and/activities mainly relating to housing for EWS/ LIG categories during the current year and/over the years, and for such other purposes as may be permitted by Ministry of Finance, Government of India or any other authority, from time to time.

20% of total issue quota is reserved for QIBs, Corporates and HNIs each and the balance 40% for retail category. Post issue its debt equity ratio will stand enhanced from 3.02% to 3.66%.
These bonds are rated 'CARE AAA' by CARE and 'IND AAA' by IRRPL indicating highest degree of safety regarding timely servicing of financial obligations and carry very low credit risk
Allotment will be done on first come- first served basis.

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Answered By StudyChaCha Member