HUDCO crawls into red zone on very first day of trading; investors worried

India Infoline News Service | Mumbai | May 19, 2017 14:40 IST

The much-awaited stock was listed at a price Rs 73.45 and touched Rs 70.55 within two and half hours of the grand debut.

The hoopla of the investors is dampened by the unexpected slip of HUDCO in the red zone after the listing. The much-awaited stock was listed at a price Rs 73.45 and touched Rs 70.55 within two and half hours of the grand debut.
 
Those investors who waited for the stock to move upwards after its intraday high of Rs 77.8 per share are now regretting. Investors in the market were speculating the huge premium for HUDCO as IPO had got the stellar response.
 
HUDCO underwent the divestment of 200,190,000 equity shares by selling the shareholder constituting 10% of the company’s pre-Offer paid up Equity Share Capital Company.
 
The HUDCO issue size consisted of Rs 1224.35 cr with the face value of the share at Rs 10 per share and the upper band price is Rs 60 per share. The minimum order quantity was one lot wherein the lot size was 200 shares per lot.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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