GoI to sell HUDCO shares at 14% discount
You can apply for HUDCO OFS on your stock broker’s platform such as Zerodha, ICIC Direct, Sharekhan, Groww etc. You can follow the prompts on the platform and apply.
The government is selling shares of its PSU, Housing & Urban Development Corporation, (HUDCO) at 14 per cent discount. Retail investors can buy shares of the PSU at Rs 79 per share on Thursday, October 19, 2023. On Tuesday, the scrip closed at Rs 89.92 on the BSE. The government has announced ₹1,000 crore Offer For Sale (OFS) to trim seven per cent stake in the public financier. The two-day OFS will go on the floors on Wednesday, October 18, 2023. But retail investors will get only one day to subscribe to the stake sale process i.e. on Thursday, October 19, 2023.
Where can you apply for HUDCO’s OFS?
You can apply for any OFS on your stock broker’s platform such as Zerodha, ICIC Direct, Sharekhan, Groww etc. You can follow the prompts on the platform and apply.
Bidding time:
Bidding time for any OFS is from 9:15 am to 3:30 pm on both days of the stake sale.
When will you get allotment of shares in OFS?
In an OFS, if you get allotment of shares, then, shares will be credited to your demat account on the next trading day i.e. T+1 day. So, in case of HUDCO’s OFS, you can get allotment of shares on next trading day after the close of the issue i.e. on Friday, October 20, 2023. The ₹1,000 crore OFS closes on Thursday, October 19, 2023.
How can you check allotment of shares?
If the shares under the OFS have been allotted to you, then, it will reflect in your portfolio.
How many shares you can bid for in an OFS?
A retail investor can invest maximum of Rs 2 lakh in a company’s OFS. While, there is no requirement of placing bid for minimum number of shares.
At what price will you get credit of shares in OFS?
Watchout! It is not necessary that you will get the shares at the floor price fixed by the company. Shares can also be allotted at higher than the mentioned floor price as according to capital market regulator, Sebi, the allotment price can be changed according to demand and supply dynamics in the OFS.
Will any charges be levied?
Yes, STT, transaction charges and GST will be levied on your order.