HUDCO bond issue nets Rs 2,216 crore

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.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus