However, the move was contested by the Housing and Urban Development Corporation (HUDCO).

The Cabinet had already approved 10 per cent stake sale in power producer NTPC.

The stock closed at Rs 78.40 after touching a high of 79.70 during the day.

The company will list its shares on the stock exchanges - BSE and NSE - on May 19.

The offer received bids for 61,39,95,600 shares against the total issue size of 20,40,58,747 shares

Sebi listing norms are applicable on all the companies

QIB portion was subscribed 18 per cent, NII was subscribed 16 per cent and retail quota was subscribed 152 per cent.

The government plans to dilute 10.19 per cent holding through this public offer.

HUDCO has fixed the price band of Rs 56-60 per equity share. The issue will close on May 11.

In market parlance, those securities are known as unsecured, redeemable, non-convertible bonds at lowest possible interest rates.

Hudco IPO is set to excite investors as this could be the most reliable substitute for them after the Housing Development Finance Corp. in ...

HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects throughout the ...

Investment experts ask investors to carefully consider their investment time frame and cash-flow needs before investing in these bonds.

The company had raised Rs 2,370 crore in the first tranche of tax-free bonds launched in September.

Hudco today said it plans to raise at least Rs 750 crore through sale of tax-free bonds maturing in 10, 15 and 20 years.

Both Hudco and IRFC bonds offer good tax-adjusted returns, but retail investors should buy only if they don't plan to sell them on listing.

State-run Housing and Urban Development Corporation today said its public issue of tax-free bonds will hit the market on January 27.