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HUDCO IPO subscribed by 52%

All eyes are on the Housing and Urban Development Corporation (HUDCO) IPO. HUDCO is a government owned company and it disburses loans for the housing and development projects in the country. The IPO has issue size of 20,40,58,747 shares.
As per the data available with the National Stock Exchange (NSE), as of 1545 hours, the total bids received by the HUDCO IPO stands at 10,61,52,200. The total bids received at cut off prices stands at 7,11,48,600. The data shows that the issue got subscribed by 52%.
The IPO is following the book-building process wherein the price band is pegged at Rs 56 to Rs 60 per equity share.
The government intends to sell 20,40,58,747 shares to raise Rs 1224 Cr of funds from the capital markets. The investors need to apply for the minimum of one market lot which consists of 200 shares.
As per the data available with the National Stock Exchange (NSE), the 10,00,95,000 shares (49%) are offered to qualified institutional buyers, 3,00,28,500 shares (15%) are offered to non-institutional buyers, 7,00,66,500 (34%) shares are offered to retail institutional investors and 38,68,747 shares (2%) to the employees of the company.