State-owned Housing and Urban Development Corp. Ltd (Hudco) on Thursday said it would launch its Rs1,200 crore initial public offering (IPO) on 8 May.The offering, which will close on 11 May, has been priced in a band of Rs56-60 per share. It comprises a net offer to the public of 200.19 million shares, which, at the upper end of the price band, could fetch the government Rs1,201.1 crore.The Hudco IPO is a pure offer for sale which will see the government sell a 10% stake in the company. Hudco will not receive any proceeds from the sale of shares.