HG Infra Eng IPO subscribed 11% on Day 1 27/02/2018

HG Infra Eng IPO subscribed 11% on Day 1

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The initial public offer of H.G. Infra Engineering was subscribed 11 per cent on the first day of bidding yesterday, reported PTI. The IPO received bids for 13,50,360 shares against the total issue size of 1,21,37,070 shares, data available with the NSE showed. Non-institutional investors category was subscribed 4 per cent while retail investors' segment got 20 per cent bids. The IPO comprises of a fresh issue of up to Rs 300 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 Rs 138 crore from anchor investors last week. The company's Rs 462-crore initial public offer (IPO) will close for subscription on February 28. The price band has been set at Rs 263-270 per share. Proceeds of the IPO will be utilised 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 issue.

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