 "HG Infra Engineering IPO subscribed 5 times")
The Rs 4.6-billion initial public offering (IPO) of HG Infra Engineering saw nearly 5 times demand the shares on offer. The qualified institutional buyer (QIB) segment of the issue was subscribed 8.4 times, high networth individual (HNI) portion was subscribed nearly five times, while retail investor quota saw nearly 3 times subscription. HG Infra is a construction firm with a focus on road projects. The price band for the IPO is Rs 263 to Rs 270 per share. The IPO comprises of fresh capital raising worth Rs 3 billion, of which Rs 900 million will be used to buy new equipment and Rs 1.2 billion for repayment of debt. At the top-end of the price band, HG Infra will have a post-issue market cap ofRs 17.6 billion. The IPO handled by SBI Capital Markets and HDFC Bank.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%