HG Infra Engineering’s Rs462 IPO will close for subscription on 28 February. The price band has been set at Rs263-270 per share. Photo: iStockphoto
New Delhi: The initial public offering (IPO) of HG Infra Engineering saw 11% subscription on the first day of bidding Monday.
The HG Infra IPO received bids for 1,350,360 shares against the total issue size of 12,137,070 shares, data available with the NSE till 1645 hours showed. The non-institutional investors category was subscribed 4% while retail investors’ segment got 20% bids.
The HG Infra IPO comprises of a fresh issue of up to Rs300 crore and an offer for sale of up to 6,000,000 equity shares (excluding anchor portion of 5,133,150 equity shares). HG Infra Engineering has garnered over Rs138 crore from anchor investors last week.
The company’s Rs462 IPO will close for subscription on 28 February. The price band has been set at Rs263-270 per share. Proceeds of the IPO will be utilized towards purchase of capital equipment, repayment of certain indebtedness, and for other general corporate purposes.
SBI Capital Markets and HDFC Bank are the book running lead managers to the HG Infra IPO.
