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HUDCO IPO Allotment Status, Allotment Date, Listing Date, Price – Details & Review

HUDCO IPO Allotment Status & Listing Date:

If you have applied for HUDCO shares in the IPO, the chances are you will get limited shares only as the issue was hugely oversubscribed. Allotment will be most likely around 18th May and you can check the allotment status then. The issue is expected to be listed on 19-May.

There are 2 different options to check your allotment for HUDCO IPO – 

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  1. At Registrar’s website – You can check allotment status on registrar website (Alankit).They have given 2 new links – Link 1 & Link 2. You will need your PAN number to check the status.  
  2. BSE : You can also check the allotment status at this BSE Link as well. You will need both PAN & Application number for checking at BSE website.

PSP Projects IPO is opening on 17th May – Read details & review

 

If you are not able to check status for HUDCO IPO allotment, you can put your name and PAN number in the comments section below and we will check and let you know.

Final day:  IPO is over-subscribed 80 times  (Retail 10 times, QIB 55 times & NIB 330 times over-subscribed)

Day 2:  IPO is over-subscribed 3 times  (Retail 4 times, QIB 3 times over-subscribed)

HUDCO is the government owned company providing loans for housing and urban infrastructure projects in India is coming up with its IPO on 8th May.

Issue Details of HUDCO IPO:  

  • IPO Open :  8th May – 11th May 2017
  • Issue Price band: Rs 56-60 per share
  • Discounted Price : Rs.54 – Rs.58 per Equity Share (RII & Employees)
  • Issue Size: Rs 1200 crores  ( 200 million shares)
  • Market lot :  XX shares
  • Minimum Investment:  Rs 12000 (Upper band)
  • Book Running Lead Managers :  ICICI Securities, IDBI, Nomura, SBICap
  • Registrar – Alankit Assignments
  • Listing: BSE/NSE

HUDCO IPO – Schedule
05th May : Anchor Investors subscription

08th May – Offer Opens
10th May – Bank Holiday for Buddha Pournima
11th May – Offer Closes
17th May – Finalisation of Basis of Allotment
18th May – Unblocking of ASBA
19th May – Credit to Demat Accounts
19th May – Listing on NSE & BSE

IPO Issue Allocation

  • Qualified institutional buyers (QIBs) –  50% of the total issue size.
  • Non-institutional investors (NIIs) –  15% of the issue size.
  • The retail quota limit in the issue = 35% of the issue size.

Background

HUDCO is a wholly-owned Government company with more than 46 years experience in providing loans for housing and urban infrastructure projects in India. They have been conferred the status of Miniratna (Category-I Public Sector Enterprise) by the GoI.

As at September 30, 2016, their total sanctioned loans since inception was Rs. 1,57,087 crores. 90% of loan is to State Government and their agencies:

  • Rs. 61,230 crores (39%)  were Housing Finance loans and
  • Rs. 95,857 crores (61%) were Urban Infrastructure Finance loans

Hudco’s total outstanding loan portfolio as of 31 December was Rs36,386 crores.

On the urban infra side, Hudco lends for projects relating to water supply; roads and transport, which includes railways and ports; power; emerging sectors, which includes special economic zones, industrial infrastructure, gas pipelines, oil terminals and telecom sector projects; commercial infrastructure and others, which includes shopping centres, market complexes, malls-cum-multiplexes, hotels and office buildings.

Promoters holdings:  100% Government of India

 

Objective of the issueThe Hudco IPO is a pure offer for sale which will see the government sell a 10% stake in the company. Hudco will not receive any proceeds from the sale of shares.

Anchor Investors:  Will be available one day before the IPO opens

Financials:

(in crores) 31-Dec-16 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13 31-Mar-12
             
Total Assets 36097.54 35881.58 33113.74 30224.4 26948.94 27495.17
  34% 8% 10% 12% -2%  
             
Total Revenue 2677.99 3302 3427.85 3002.88 2921.34 2778.64
  8% -4% 14% 3% 5%  
             
Profit After Tax (PAT) 496.29 774 768.32 733.97 699.69 621.57
  -15% 1% 5% 5% 13%  
             
Basic EPS   3.87 3.84 3.67    

 

Risks: The resolution of loans to state electricity boards under the Uday scheme could continue to adversely impact the recognition of interest income from the exposure that accounts for 5.4% of the loan portfolio.

Valuation as compared to its peers:

HUDCO’s dual focus toward infrastructure development & housing finance, sectors that have emerged to be of primal focus for the Centre. With ~ 90% exposure of its loan portfolio coming from state governments & their agencies, it has managed to maintain its AAA rating and gain access to a diversified & low cost funding base.

HUDCO IPO, valued as 1.25X price to book value in its upper price band

Brokerage Recommendations:

LPK Research Subscribe
 Centrum Subscribe
 Ajcon Global Subscribe
 Reliance Sec Subscribe
IIFL  Subscribe
SPA Sec Subscribe

Should you invest: 

The Issue is attractively priced and expected to be over-subscribed. Future prospects is good as focus of government is on affordable housing and urbanisation. The flipside is that the revenue & profit has not grown much, but that is factored in the price.

Grey market premium (GMP) in HUDCO shares is currently around INR25 per share which indicates strong demand and a high possibility of a rewarding listing.

Disclaimer:  The articles or analysis on this website should not be constituted as Investment advice. Please consult your financial advisor before making any investments.

Also Read:   Shareholding Portfolio - Government Pension Fund Global
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