Housing and Urban Development Corp files draft prospectus for IPO

Government-owned Housing and Urban Development Corp (HUDCO) on Tuesday filed a draft red herring prospectus (DRHP) with the Securities Exchange and Board of India (Sebi) to launch its initial public offering (IPO). 

Government plans to dilute 10% stake in the HUDCO. The DRHP said that 20.02 crore equity shares will be offered in the IPO. 

IDBI Capital, ICICI Securities and SBI Capital are expected to act as a lead managers for the issue. 

Retail investors and HUDCO employees could be offered with 5% discount on the issue price.