May 12, 2017
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IPO oversubscription drives unprecedented demand for HUDCO offering, with wide category oversubscriptions and strong retail participation.
HUDCO's IPO recorded exceptional investor demand with overwhelming oversubscription across Qualified Institutional Buyers, Foreign Institutional Investors, non-institutional and retail categories. The offering drew the largest number of individual ASBA applications since ASBA became mandatory. The issue operated with a fixed price band, retail and employee discount, a designated employee reservation and a substantial portion of the net offer reserved for Qualified Institutional Buyers within a limited subscription window.