HG Infra IPO sees over three-times subscription
HG Infra IPO receives bids for 37,368,100 shares against the total issue size of 12,137,070 shares, according to data available with the NSE
New Delhi: The initial public offer (IPO) of HG Infra Engineering Ltd was oversubscribed 3 times so far on the last day of bidding on Wednesday.
The HG Infra IPO received bids for 37,368,100 shares against the total issue size of 12,137,070 shares, data available with the NSE till 3.15pm showed. Till Tuesday, the HG Infra IPO was subscribed 44%.
The offer consists a fresh issue of up to Rs3,000 crore and an offer for sale (OFS) of up to 6,000,000 shares (excluding anchor portion of 5133,150 shares).
Shares in the HG Infra IPO were issued in a price band of Rs263-270 apiece.
HG Infra has garnered over Rs138 crore from anchor investors last week. 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.