HUDCO shares in focus as Navratna PSU raises $200 million

HUDCO Share Price: Shares of Navratna PSU HUDCO (Housing & Urban Development Corporation Ltd) are in focus as the company Housing and Urban Development Corporation (HUDCO) has raised $200 million (JPY 30 billion) in its maiden foray into the syndicated loan market, its arranger said on Tuesday.

The counter opened in green at Rs 283.50 when compared to the previous close of Rs 282.55. It gained further to touch an intraday high of Rs 284.90 but fell down amid selling pressure to touch the low of Rs 280.05. Last seen, the counter was trading at Rs 281.15. 

HUDCO Share Price History

Housing & Urban Development Corporation Ltd or HUDCO has given around 101.20 per cent return this year. The 52-week high and low of this stock are Rs 277.95 and Rs 54.40 respectively.

HUDCO Dividend 2024

HUDCO has informed exchanges that its board of directors has recommended a final dividend of Rs 2.65 per equity share of face value of Rs 10 each for 2023-24. However, this is subject to the approval of shareholders in the ensuing Annual General Meeting (AGM).

HUDCO Dividend 2024: Payment Date

According to the company, the dividend, if approved, in the AGM, will be paid within 30 days from the date of approval.

"The final Dividend, if recommended, will be paid within the statutory period of 30 days from the date of approval in ensuing AGM," the filing reads.

HUDCO Dividend 2024: Record Date

The company has not fixed the record date for this corporate action.

Meanwhile, the state-run body has raised the five-year money as part of its inaugural "social loan", Japan's Sumitomo Mitsui Banking Corporation (SMBC) said.

The deal, led by SMBC's Singapore branch, saw an oversubscription with a total of nine lenders, and was upsized from its original launch size of JPY 15 billion to JPY 30 billion after exercising the greenshoe option, an official statement said.

The inaugural social loan will enable further expansion of HUDCO's social housing platform to improve the quality of life for the Indian community and enhance infrastructure facilities in urban areas, the statement said.
SMBC acted as the sole mandated lead arranger, book runner and social loan coordinator.

"We look forward to expanding our reach to the underserved communities and strengthening the local community's access to resources," Hiroyuki Mesaki, country head of SMBC India, said.