The Cabinet on Wednesday approved disinvestment of a 10 percent stake in the state-owned Housing and Urban Development Corporation (HUDCO). "The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has given its approval for disinvestment of 10 per cent paid-up equity of Housing and Urban Development Corporation (HUDCO)," an official statement said.
The CCEA also approved allowing a price discount of up to 5 percent on the issue price to retail investors and HUDCO employees. The actual discount to them will be approved by the Alternative Mechanism based on recommendations of a High-Level Committee (HLC) of Officers, it added.
According to the statement, the paid-up equity capital of HUDCO, with a net worth of Rs 7,800 crore, is Rs 2,001.90 crore as on March 31, 2015. The face value of each HUDCO share is Rs 10 at present.
Cabinet clears way for HUDCO going public
By IndianMandarins - 2016-06-16 00:59:20
The Cabinet on Wednesday approved disinvestment of a 10 percent stake in the state-owned Housing and Urban Development Corporation (HUDCO). "The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has given its approval for disinvestment of 10 per cent paid-up equity of Housing and Urban Development Corporation (HUDCO)," an official statement said.
The CCEA also approved allowing a price discount of up to 5 percent on the issue price to retail investors and HUDCO employees. The actual discount to them will be approved by the Alternative Mechanism based on recommendations of a High-Level Committee (HLC) of Officers, it added.
According to the statement, the paid-up equity capital of HUDCO, with a net worth of Rs 7,800 crore, is Rs 2,001.90 crore as on March 31, 2015. The face value of each HUDCO share is Rs 10 at present.
