Since the news of IPO deferred to June 17, Grey market saudas have been halted and previous saudas will get cancelled.
For past trend in GMP , see at the bottom of this page.
Housing and Urban Development Corporation’s (Hudco) initial public offer (IPO) to divest the Centre’s 10% stake in the company could hit the market on 5th April (tentatively) ending a five-year drought of PSU IPOs. The stake sale in Hudco could fetch the government up to Rs.1,000 crore, the company being valued at around Rs.10,000 crore.
02nd May – Anchor Investors
03rd May – Offer Opens
05th May – Offer Closes
10th May – Bank Holiday for Buddha Pournima
10th May – Finalisation of Basis of Allotment
11th May – Unblocking of ASBA
12th May – Credit to Demat Accounts
15th May – Listing on NSE & BSE
IPO Information ( Tentative)
Issue Opens on: 03 May 2017
Issue Closes on: 05 May 2017
Issue Type: Book Built Issue IPO
Issue Size: 20,01,90,000 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.48 – Rs.50 per Equity Share
Market Lot: 300 shares
Listing At: NSE, BSE
About the Sector:
India had an estimated population of 1.3 billion in Fiscal 2015 and a gross domestic product (“GDP”) at current prices of approximately US$2.095 trillion in Fiscal 2015. India will soon have the largest and youngest workforce the world has ever seen. At the same time, the country is undergoing a massive wave of urbanization as approximately 10 million people move to towns and cities each year in search of jobs and opportunity.
Traditionally, the Indian housing finance market has been largely catered to by Banks and HFCs. Together, they play a significant role in the housing finance system that promotes competition, market efficiency and consumer choice with improved terms and conditions in obtaining housing finance
ICRA estimates that the total housing credit outstanding in India as at June 30, 2016 was around ‘ 12.8 trillion compared with ‘ 12.4 trillion as at March 31, 2016, indicating a year on year growth of 19% (19% in Fiscal 2016). The share of HFCs and NBFCs in the overall mortgage finance market remained steady at 36% as at June 30, 2016, with commercial banks accounting for the remaining 64%. ICRA believes that HFCs and NBFCs are likely to benefit due to their focused approach, thrust on the relatively high growth segments like Affordable Housing and self-employed customers, and their comparatively superior service levels.
In ICRA’s opinion, the housing finance sector will register a growth of around 18% to 20% in Fiscal 2017, compared with the 5-year CAGR of 18% in Fiscal 2011 to Fiscal 2016. The growth is likely to be supported by some pick-up in primary sales, new launches and a healthy growth in the Affordable Housing segment. ICRA expects banks to grow their home loan books at around 16% to 19% and HFCs at a slightly higher pace of around 17% to 21% leading to an overall growth of 18% to 20% in Fiscal 2017. The long-term growth outlook for the sector remains positive given the Government’s focus on “Housing for All” by 2022, and the favourable regulatory environment.
About the Company:
The Company is a wholly-owned Government company with more than 46 years” experience in providing loans for housing and urban infrastructure projects in India. It has been conferred the status of Miniratna (Category-I Public Sector Enterprise) by the GoI. As at September 30, 2016, its total sanctioned loans since our inception was Rs 1,570,870.0 million, Rs. 612,305.4 million of which, or 38.97%, were Housing Finance (as defined below) loans and Rs 958,573.2 million of which, or 61.02%, were Urban Infrastructure Finance (as defined below) loans. As at September 30, 2016, its total outstanding Loan Portfolio was Rs 361,119.3 million, Rs 112,951.1 million of which, or 31.28%, were Housing Finance loans and Rs 248,168.2 million of which, or 68.72%, were Urban Infrastructure Finance loans and project-linked bonds.
In rating agency ICRA’s opinion, the housing finance sector will register a growth of around 18% to 20% in FY17, compared with the 5-year CAGR of 18% from FY11 to FY16. The growth is likely to be supported by some pick-up in primary sales, new launches and a healthy growth in the affordable housing segment.
With listing of central PSUs virtually coming to a standstill, the government has now set itself stiff time-bound targets for listing of Central PSUs. According to the procedures outlined by the DIPAM on Friday, a profitable PSU would have to list on the stock exchanges within 165 days, after the administrative ministry is on-board for the plan.
The company classifies its housing finance loans into social housing, residential real estate and retail finance, which is branded as HUDCO Niwas (collectively, “Housing Finance”).
Under social housing, the ultimate beneficiaries of the loans it makes are borrowers belonging to the economically weaker sections (“EWS”) of the society, which is defined as families with household income of ‘ 300,000 per annum or less, and borrowers belonging to the lower income group (“LIG”), which is defined as families with household income from Rs 300,001 per annum to Rs. 600,000 per annum.
Under residential real estate, the ultimate beneficiaries of the loans it makes, are public and private sector borrowers for housing and commercial real estate projects, including land acquisition. Such housing and commercial real estate projects cater primarily to the middle-income group and high-income group of society.
It finances social housing and residential real estate through primarily lending to State Governments and their agencies, which, in turn, extend the finance to or utilise the finance for the ultimate individual beneficiaries. It ceased sanctioning new social housing and residential real estate loans to entities in the private sector in March 2013.
Under HUDCO Niwas, it provides financing to individuals directly and bulk loans to State Governments, their agencies and public sector undertakings (“PSUs”) for on-lending to their employees and to other HFCs for on-lending to the general public.
With respect to urban infrastructure finance, it makes loans for projects relating to:
b) roads and transport;
d) emerging sectors, which includes SEZs (special economic zones), industrial infrastructure, gas pipelines, oil terminals and telecom sector projects;
e) commercial infrastructure and others, which includes shopping centres, market complexes, malls-cum-multiplexes, hotels and office buildings;
f) social infrastructure and area development; and
g) sewerage, drainage and solid waste management
Its borrowers under Urban Infrastructure Finance are primarily State Governments and their agencies. It ceased sanctioning new Urban Infrastructure Finance loans to entities in the private sector in March 2013
It has a pan-India presence. In addition to the corporate headquarters, it has 21 regional offices and 11 development offices as at September 30, 2016.
Financial Data:The company has been profitable since its inception over 46 years ago, including a profit after tax of Rs. 3,481.9 million (consolidated), Rs 7,742.8 million (consolidated), Rs 7,683.2 million and Rs 7,339.7 million for the six months ended September 30, 2016 and Fiscals 2016, 2015 and 2014, respectively. As at September 30, 2016, it had a net worth of Rs 87,241.9 million (standalone). Its CRAR as at September 30, 2016 was 68.07%, all of which was Tier 1 capital, compared to the minimum required CRAR of 12.00% and a minimum Tier 1 CRAR of 6.00%. Its sustained performance and profitability enabled it to earn the Miniratna (Category-I Public Sector Enterprise) status, which was conferred to us in Fiscal 2005.
As on 30.9.2016 :Average loan size Rs. 551.8 Mns,Average loan tenure 8.2 year, Net Interest Margin 4.03%.
As per Restated Consolidated Financial Statements for the year 2015-16
NAV per Equity Share : Rs.42.14
GMP Trend Report:
On 19-04-2017 at 12.50 pm,GMP 26.00 – 26.50 ,Kostak 900 – 950
On 19-04-2017 at 10.00 am,GMP 24.75 – 25.25 ,Kostak 900 – 950
On 18-04-2017 at 05.00 pm,GMP 28.00 – 29.00 ,Kostak Rs. 1100-1150.
On 17-04-2017 at 05.00 pm,GMP 28.90 – 29.00 ,Kostak Rs. 1100-1150.
On 15-04-2017 at 05.00 pm,GMP 27.50 – 29.00 ,Kostak Rs. 1150. Now volumn has improved
On 13-04-2017 at 11.00 am,GMP 28.25 – 28.75 Kostak 1125 – 1175
On 07-04-2017 at 09.00 am, GMP Rs. 29 – 39 and Kostak rate Rs. 1100-1150
On 06-04-2017 at 11.00 am, GMP Rs. 28 – 29 and Kostak rate Rs. 1050-1150
On 05-04-2017 at 10.30 am, GMP Rs. 29.50 – 30 and Kostak rate Rs. 1150-1200
On 04-04-2017 at 10.30 am, GMP Rs. 28.75 – 29.25 and Kostak rate Rs. 1100-1150
On 03-04-2017 at 10.30 am, GMP Rs. 29-30 and Kostak rate Rs. 1100-1150
On 01-04-2017 at 5 0m, GMP Rs. 29.50-30 and Kostak rate Rs. 1150-1200
On 31-03-2017 at 10 am, GMP Rs. 29-29.50 and Kostak rate Rs. 1100-1150
On 30-03-2017, GMP Rs. 29-30 and Kostak rate Rs. 1100-1150
On 29-03-2017, GMP Rs. 27-28 and Kostak rate Rs. 1100
On 28-03-2017, GMP Rs. 27-28 and Kostak rate Rs. 1100