HG Infra IPO subscribed nearly 5 times on final day

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Mumbai | Updated: Mar 01, 2018 4:08 AM

Qualified institutional buyers (QIBs) bid for 2.87 crore shares of the 0.34 crore shares on offer to them, while high networth individuals (HNIs) bid for 1.29 crore shares of the 0.26 crore shares on offer and retail investors bid for 1.77 crore shares of the 0.60 crore shares reserved for them.

HG infra, IPO, HG infra IPO, HG Infra ipo subscription, HG Infra on BSE, HG infra price bandThe initial public offering (IPO) of Jaipur-based infrastructure company, HG Infra Engineering, was subscribed 4.89 times on the final day. (Reuters)

The initial public offering (IPO) of Jaipur-based infrastructure company, HG Infra Engineering, 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, while high networth individuals (HNIs) bid for 1.29 crore shares of the 0.26 crore shares on offer and retail investors bid for 1.77 crore shares of the 0.60 crore shares reserved for them. On February23, 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 are book running lead managers to the offer. HG Infra Engineering has planned to raise up to Rs 462 crore from its initial public offering (IPO). The company is primarily engaged in the execution of infrastructure sector projects like highways, roads and bridges.
It 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. It has executed projects across Rajasthan, Uttar Pradesh Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh. It will be the sixth company to be listed on BSE and NSE in 2018.

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