HUDCO shares surge 29 % on trading debut

May 19, 2017 10:18 am | Updated 10:21 am IST - MUMBAI,

Shares in India's state-run Housing and Urban Development Corp Ltd (HUDCO) rose as much as 28.9 percent on its market debut on Friday, after a strong response to the company's 12.2 billion-rupee ($188 million) initial public offering.

Shares in the housing and urban infrastructure projects lender were trading 26.7 percent higher at₹ 76 compared with the IPO issue price of 60 rupees.

The IPO, first by a state-run company in five years, had been subscribed about 80 times.

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