Khaitan & Co advises the Government on sale of equity of HUDCO

The government will sell up to 7 per cent stake in Housing & Urban Development Corporation (HUDCO) at a floor price of Rs 79 per share. 

The President of India (acting through the Ministry of Housing and Urban Affairs, Government of India) has made an offer for sale of 13,28,82,211 equity shares of face value of INR 10 each (representing 6.64% of the total paid-up equity share capital) of HUDCO, aggregating to ₹1,050 crore.

The offer for sale was made through the stock exchange mechanism under the “Comprehensive Framework on Offer for Sale (OFS) of Shares through the Stock Exchange Mechanism” issued by SEBI.

Khaitan & Co acted as the legal counsel to the President of India.

The core team consisted of Madhur Kohli (Partner), Pulkit Singh Rahangdale (Senior Associate) and Abhishek Singh (Associate).

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.