Housing Development and Infrastructure (HDIL) will debut on bourses on 24 July 2007.

The company had fixed the IPO price at Rs 500, the upper end of the Rs 430 - 500 price band.

The IPO of Housing Development and Infrastructure received a good investor response. The IPO was subscribed 6.6 times. The issue closed on 3 July 2007.

FIIs put in bids for 13.03 crore shares as compared to 1.74 crore shares reserved for the qualified institutional bidders category (QIB) as a whole. The QIB portion was subscribed 10.1 times.

High networth individuals and corporates put in bids for 51.87 lakh shares compared to 29.1 lakh shares reserved for this segment. The IPO, in this category was subscribed 1.78 times.

Retail investors put in bids for 1.38 crore shares compared to 87.30 lakh shares reserved for this segment. The retail investors’ portion was subscribed 1.59 times.

Housing Development and Infrastructure is a real estate development company in India, with significant operations in the Mumbai metropolitan region.

HDIL focuses on real estate development, including construction and development of residential projects and, more recently, commercial and retail projects, slum rehabilitation and development, including clearing slum land and rehousing slum dwellers, and land development, including development of infrastructure on land which the company then sells to other property developers.

HDIL has an integrated in-house development team which covers all aspects of property development from project identification and inception through construction to completion and sale.

HDIL has around 45.5 million square feet (sq. ft.) under construction and an additional 66.6 million sq. ft. in various stages of planning. Much of this developable area has come from the firm's slum rehabilitation activities, under which a builder gets to build additional space in return for the free housing given to slum dwellers.

The firm has undertaken nearly 40% of the slum rehabilitation projects in Mumbai city.

HDIL's land bank of 2,500 acres spread across Mumbai, Kochi and Hyderabad has been valued at Rs 21,500 crore. The valuation was done by real estate consulting firms Knight Frank India and Cushman Wakefield India.

HDIL has development rights to nearly one million sq. ft in Mumbai's Bandra Kurla complex, in lieu of the slum clearance work it undertook in the area. HDIL had sold part of this space to Gujarat's Adani Group in May 2006 at Rs 2,250 crore, making this India's biggest land deal.

HDIL plans to enter the hospitality space through a joint venture for a seven-star hotel on Mumbai's Juhu beach.

Currently, 50.7% of HDIL's business comes from infrastructure development business, while the residential complexes segment contributes 18.4% and commercial business 5.9%, with 4% coming from the retail segment. Slum re-development activities account for the rest.