HG Infra Engineering ends almost flat on debut

Settles at Rs 270.05 on BSE

Shares of HG Infra Engineering settled at Rs 270.05 on BSE, almost flat compared to its initial public offer (IPO) price of Rs 270 per share on its debut on the bourses on 9 March 2018.

The stock listed on BSE at Rs 270, matching its IPO price of Rs 270 per share. The stock hit a high of Rs 276 and a low of Rs 252.60 in the intraday. On the BSE, 33.25 lakh shares were traded on the counter.

The IPO of HG Infra Engineering received bids for 6.04 crore shares, data on the National Stock Exchange of India (NSE) website showed. The IPO was subscribed 4.98 times. The issue opened for subscription on 26 February 2018 and closed on 28 February 2018. The company issued shares at the top end of the IPO price band of Rs 263 to Rs 270 per share.

On a consolidated basis, the company reported profit after tax of Rs 29.20 crore on net sales of Rs 567.34 crore in the half year ended 30 September 2017.

HG Infra Engineering is a Rajasthan-based player undertaking infrastructure construction, development and management. The main business includes providing engineering-procurement-and-construction (EPC) services on a fixed-sum turnkey basis and undertaking civil construction and related infrastructure projects. The focus area is road projects, including highways, bridges and flyovers.

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