HG Infra Engineering's Rs 4.6 billion IPO subscribed 44 times

HG Infra Engineering's Rs 4.6-billion IPO was subscribed 44 times a day before its close. Bulk of the subscription so far has come from retail investors. 

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 of Rs 17.6 billion. 

The IPO I handled by SBI Capital Markets and HDFC Bank.