New Delhi: The Government will sell up to 7 percent stake in Housing & Urban Development Corporation (HUDCO) at a floor price of Rs 79 per share.

The Offer For Sale (OFS) for over 14.01 crore shares or 7 percent stake will open for institutional investors on Wednesday.

Retail investors can place bids for HUDCO shares on Thursday.

At Rs 79 apiece, the 7 percent share sale in HUDCO would fetch about Rs 1,000 crore to the exchequer.

"Offer for Sale in HUDCO opens tomorrow for non-retail investors. Retail investors can bid on Thursday. Government will divest 7 percent equity, including a Green Shoe Option of 3.5 percent," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a post on social media platform X.

The floor price of Rs 79 per scrip is at a discount of 12 percent over Tuesday's closing share price of HUDCO.

Shares of HUDCO closed at Rs 89.92, up 0.36 percent on BSE.

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