HUDCO Shares Crash 9% as Government Announces Stake Sale: Is This the Time to Buy?

HUDCO shares crashed 9% on Wednesday, October 18, after the government announced that it would sell up to a 7% stake in the company at a floor price of Rs 79 per share. The offer for sale (OFS) opened on Oct 18 for non-retail investors and tomorrow for retail investors. The floor price of Rs 79 per share is at a discount of 12%. Shares of HUDCO closed at Rs 89.92, up 0.36% on BSE.