HUDCO bond issue nets Rs 2,216 crore
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State-owned Housing and Urban Development Corporation (HUDCO) on Monday said it has raised Rs 2,216 crore through public issue of tax-free bonds and the funds will be used for lending to low-cost housing and urban infrastructure projects.
The issue, launched on January 9, closed on February 7. The issue size was Rs 750 crore, with an option to retain over-subscription up to Rs 5,000 crore.
"We have done well. The issue was oversubscribed by about three times. The maximum amount was raised from the retail investors," HUDCO chairman and MD VP Baligar told reporters.
The company has raised Rs 1,402 crore from the retail investors, of which Rs 801 crore came from retail investors investing up to Rs 10 lakh and the rest Rs 601 crore from HNIs, he added.