Retail investors have
given the thumbs up to Housing and Urban Development Corporation’s (HUDCO) Rs.
750-crore tax-free non-convertible debenture (NCD)issue.
The retail investor
portion (Category 4) was subscribed close to 3 times (2.94 times or / 88.08 lakh bonds) of the allocated 30 lakh
bonds of Rs. 1,000 each.
The HNI portion
(Category 3) was subscribed just over 2 times (2.03 times or / over 45.68 lakh bonds) of the allocated 22.5
lakh bonds.
The company portion
(Category 2) of 15 lakh bonds was oversubscribed 1.75 times with bids for over
26.29 lakh bonds coming in.
The DII and FII
portion of 7.5 lakh bonds were oversubscribed 1.67 times with bids for 12.55
lakh bonds being recorded. Overall, the issue was oversubscribed 2.3 times
(over 172.6 lakh bonds) as on September 27.
The issue of 75 lakh
bonds of face value Rs 1,000 each, closes on October 14.The company has the
option of retaining oversubscription up to the shelf limit of Rs 4,809.2 crore.
Interest rates for
the NCD range 8.14-8.76 per cent depending on the investor category and the period
of investment -- 10-20 years.
The NCDs would be
listed on the BSE
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