HUDCO OFS opened for retail investors on Thursday. After an overwhelming response from institutional investors, the government decided to exercise the greenshoe option and sell an additional 3.5% stake in the company. The steep discount offered by the government in the OFS triggered a strong response from institutional investors.
Under the OFS, the government will offload seven crore equity shares, representing about 3.5% of equity with an oversubscription option of another 3.5%. Based on the base offer and oversubscription option, the government plans on selling up to 14.01 crore shares.
The offer price is at a 12% discount to the current market price. Under the OFS, the government will offload 7 crore equity shares, representing about 3.5% of equity with an oversubscription option of another 3.5%.