HG Infra Engineering made a tepid debut on the bourses on Friday. The stock got listed at its issue price of Rs 270. The stock ended the session at Rs 270.05, 0.2% above the issue price. The initial public offering (IPO) of the Jaipur-based infrastructure company was subscribed 4.89 times on the final day. Investors bid for around 5.94 crore shares of the 1.21 crore shares on offer. Qualified institutional buyers (QIBs) bid for 2.87 crore shares of the 0.34 crore shares on offer to them, high net-worth individuals (HNIs) bid for 1.29 crore shares of the 0.26 crore shares on offer to them and retail investors bid for 1.77 crore shares of the 0.60 crore shares reserved for them. On February 23, HG Infra Engineering finalised allocation of 51.33 lakh shares at Rs 270 aggregating to Rs 138.59 crore to anchor investors. Anchor investors include DSP Blackrock India Tiger Fund, SBI Equity Opportunities Fund, HDFC Trustee, Aditya Birla Trustee, Reliance Capital Trustee and L&T Mutual Fund. SBI Capital Markets and HDFC Bank were book running lead managers to the offer. HG Infra Engineering raised Rs 462 crore from the IPO. The company also executes other civil construction projects like extension & grading of runways, railways and land development. The company has further diversified into water pipeline projects in the last few years. The company has executed projects in Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh. HG Infra will be the sixth company to be listed on BSE and NSE in 2018. Fundraising through IPOs hits a record high in 2017 with 36 companies raising Rs 67,147 crore, data sourced from Prime Database revealed. Listing gains and the positive sentiment in the market are among the reasons attributed to the trend.