New Delhi, Jul 26 (IANS): The Centre will sell up to 8 per cent shares in Housing & Urban Development Corporation Ltd (HUDCO) through offer for sale (OFS) on Tuesday and Wednesday.

In a tweet, Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), said that the offer for sale of government of India's equity will open on Tuesday for non-retail investors.

"Offer for Sale of GoI equity in HUDCO opens tomorrow for Non-Retail investors. Day 2 for Retail investors. Government would divest 5.5 per cent shares with an additional 2.5 per cent as Green Shoe Option," he tweeted.

At the current share price of Rs 47 on the BSE, the Centre is likely to raise around Rs 750 crore from the offer for sale.

The floor price for the offer has been fixed at Rs 45 per equity share, the company said in a regulatory filing.

On Tuesday, HUDCO aims to sell up to 11,01,04,500 equity shares of the face value of Rs 10 each, representing 5.5 per cent of the total paid-up equity share capital of the company.

In case of oversubscription, HUDCO may use the option to additionally sell 5,00,47,500 (2.5 per cent) equity shares of the company on Day 2, Wednesday, of the OFS, the filing said.