(Reuters) - Construction firm H.G. Infra Engineering Ltd's initial public offering (IPO) to raise up to 4.62 billion rupees ($70.92 million) was subscribed 4.9 times on the last day of the sale on Wednesday.
Investors bid for 59.5 million shares of the 12.1 million shares on offer, stock exchange data as of 1243 GMT showed. http://bit.ly/2CNZsoj
H.G. Infra was selling new shares to raise 3 billion rupees, while its promoters were selling 6 million shares in a price range of 263 rupees-270 rupees a share.
SBI Capital Markets and HDFC Bank were the bankers managing the sale.
($1 = 65.1450 Indian rupees)
Also Read
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Biju Dwarakanath)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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