New Delhi [India], October 18 : Shares of Housing and Urban Development Corporation (HUDCO) declined over 10 per cent on Wednesday as the central government planned to divest up to 7 per cent of stake in the state-owned housing finance firm through the offer for sale (OFS) route.
At 3.12 pm, HUDCO shares were at Rs 80.40, down 10.62 per cent from the previous closing.
The offer for sale in HUDCO opened today for non-retail investors. Retail investors can bid on Thursday.
The central government aims to divest 7 per cent equity including a green shoe option of 3.5 per cent. Offer for Sale means the promoters (owners) are selling their shares to raise additional funds for the company.
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