HG Infra IPO opens today: Should you subscribe? Tips from brokerage firms

Both Emkay Global and Choice Research have given a 'subscribe' rating to the IPO based on HG Infra's past track record

HG Infra Engineering is an emerging pure-play engineering, procurement and construction (EPC) company with a primary focus on roads and allied sectors, such as flyovers and bridges. The company started operations in Rajasthan and has gradually expanded presence across Maharashtra, Uttar Pradesh, Haryana, Uttarakhand and Arunachal Pradesh. Currently, Rajasthan and Maharashtra contribute around 96 per cent to the order book. 

Besides roads, HG Infra forayed into executing water pipeline projects in 2013 and is undertaking two water supply projects in Rajasthan on turnkey basis.

The initial public offer (IPO) consists of fresh issue of 11.1 million equity shares and an