Indian government has declared its intention to divest up to 7% of its stake in the Housing and Urban Development Corporation (HUDCO) via an offer for sale (OFS) this week. The strategic move is anticipated to generate approximately ₹1,100 crore.
The government plans to offload approximately 7 crore shares, equivalent to a 7% stake, in HUDCO, a public sector enterprise. Each equity share in the sale has a face value of Rs 10. The OFS is slated for October 18-19, with a base price of Rs 79 per share set for the offer.
This initiative is part of the government’s broader disinvestment plan, which involves monetizing its holdings in public sector enterprises. The revenue generated from this sale is expected to significantly contribute towards achieving the government’s disinvestment target for the current fiscal year.
