Shillong, June 15: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for disinvestment of 10% paid up equity of Housing and Urban Development Corporation Ltd. (HUDCO) out of Government of India’s shareholding of 100% through the process of book building as per the Securities and Exchange Board of India (SEBI) Rules and Regulation.
The CCEA also approved allowing a price discount up-to 5% on the Issue Price to the retail investors and the employees of HUDCO. Actual discount to them will be approved by the Alternative Mechanism based on the recommendations of High Level Committee (HLC) of Officers.
The paid up equity capital of HUDCO is Rs.2001.90 crore as on 31.03.2015. The Face value of each HUDCO share is Rs.10/- at present, this is according to the press statement by the PIB.
