Hudco gets Sebi approval to raise funds through IPO
State-run housing finance company Housing and Urban Development Corporation Limited  (Hudco) has received Securities and Exchange Board of India (Sebi) approval to raise funds through an IPO. IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage the company's public issue. Hudco's IPO is a part of the government's disinvestment plan. 
New Delhi, Mar 22 (PTI) State-run Hudco has received capital markets regulator Sebis approval to raise funds through an initial share sale as part of the governments disinvestment drive. Hudco had filed draft papers with the Securities and Exchange Boardof India (Sebi) in January and got the markets watchdogs "observation" on March 10, which is necessary for any company to launch public offer. The initial public offer will comprise sale of 200,190,000 equity shares --10 per cent stake -- by the central government through an offer for sale (OFS) route, as per the Draft Red Herring Prospectus (DRHP). A discount of up to 5 per cent on the issue price would be given to retail investors and Hudco employees. The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. The government holds 100 per cent stake in the company. 