Hindustan Aeronautics (HAL) Makes Weak Market Debut, Shares Fall Over 5%

Listing of HAL shares comes after the company's IPO last week, which saw a tepid response from investors with a subscription of 99 per cent.

Market | | Updated: March 28, 2018 10:54 IST
Hindustan Aeronautics (HAL) Makes Weak Market Debut, Shares Fall Over 5%

Government-owned Hindustan Aeronautics had raised Rs 4,113 crore in the IPO

Hindustan Aeronautics Ltd or HAL shares made a weak debut on Wednesday, with the shares falling more than 5 per cent. Hindustan Aeronautics shares fell to as low as Rs 1,150 - a discount of over 5.3 per cent compared with the issue price of Rs 1,215. Hindustan Aeronautics shares on Wednesday started trading with symbol 'HAL' on stock exchanges NSE and BSE. Listing of Hindustan Aeronautics shares comes after the company's IPO last week, which saw a tepid response from investors with a subscription of 99 per cent.

Government-owned Hindustan Aeronautics had raised Rs 4,113 crore ($633.35 million) in the initial public offer. The HAL or Hindustan Aeronautics IPO had opened on March 16 and closed on March 20.

Wednesday marks the last trading session of financial year 2017-18.

Comments
At 10:27 am, Hindustan Aeronautics shares were trading at Rs 1,176.25 on the BSE, whose benchmark index Sensex was down 200 points at 32,973.

Hindustan Aeronautics (HAL) is a fully-owned Government of India undertaking under the administrative control of Ministry of Defence, Department of Defence Production.