The Rs 1,200 crore IPO of HUDCO has received bids worth Rs 97,000 crore, thereby recording the highest oversubscription in any PSU disinvestment, the Govt said on Friday. This is the first IPO of a CPSE since April 2012. The HUDCO issue saw an ‘exceptional level’ of interest and was oversubscribed by more than 79 times. “Bids worth Rs 97,000 crore were received for an issue size of Rs 1,200 crore. This is the highest level of over subscription witnessed in a divestment by Government of India through IPO route,” a finance ministry statement said.