Govt to sell 10% stake in HUDCO via IPO route
The Cabinet on Wednesday approved the selling of 10% stake in state-run Housing & Urban Development Corporation (HUDCO) through an initial public offering (IPO). The decision comes as a part of the government's initiative to raise ₹56,500 crore via disinvestment in state-owned enterprises in 2016-17 fiscal. The target is 19% lower than last year’s, which the government failed to hit.