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Hudco IPO subscribed 63% on Day 1; retail portion subscribed 1.5 times

HUDCO IPO was off to strong start with 63 per cent subscription on the first day of the issue. Meanwhile, the retail portion of HUDCO IPO got overwhelming response with 152 per cent subscription on day one. Analysts say the strong response from retail investors' category is due to the Rs. 2 discount given to this category. State-owned Housing and Urban Development Corporation Ltd (HUDCO) hit the primary market with its Rs. 1,200-crore initial public offer (IPO) on Monday, May 8, 2017. Through the HUDCO IPO, the government will divest a 10 per cent stake in the company. HUDCO's IPO will be open for three days through May 11, 2017. The IPO is priced between Rs. 56 and Rs. 60, and can be applied in lot sizes of 200 shares. 

Here are five things to know:

1) Incorporated in 1970, HUDCO is a wholly-owned government company with focus on housing and urban infrastructure finance in India. HUDCO primarily lends to urban infrastructure projects relating to water supply, road…