Hudco gets Sebi approval to raise funds through IPO

State-run housing finance company Housing and Urban Development Corporation Limited (Hudco) has received Securities and Exchange Board of India (Sebi) approval to raise funds through an IPO. IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage the company's public issue. Hudco's IPO is a part of the government's disinvestment plan.