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.
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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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