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Hudco files DRHP with SEBI for public issue

Housing and Urban Development Corporation (Hudco) has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The initial public offer will see sale of 20.01 crore equity shares equivalent to 10% stake by the central government through an offer for sale (OFS) route.

The lead managers for the issue are Nomura Financial Advisory and Securities (India), IDBI Capital Markets & Securities, SBI Capital Markets and ICICI Securities. The proceeds from Hudco disinvestment will form part of the government's disinvestment kitty in the current fiscal.

Housing and Urban Development Corporation provides long term finance for construction of houses and to undertake housing and urban infrastructure development programs in India. In addition, the company offers consultancy services, including URP services, environmental engineering, and government programs consultancy services and disaster mitigation services.

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