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HG Infra Engineering sees dull debut

Capital Market 

Shares of were trading at 264.90 at 10:30 IST on BSE, at a discount of 1.89% to its initial public offer price of 270 per share on its debut on the bourses today, 9 March 2018.

Meanwhile, the Sensex was up 139.14 points or 0.42% at 33,490.71

Shares of were listed on at 270, matching its initial public offer (IPO) price of Rs 270 per share. The stock had hit a high of Rs 274.70 and a low of Rs 252.60 so far during the day. On the BSE, 11.99 lakh shares were traded on the counter so far.

The IPO of received bids for 6.04 crore shares, data on the National Stock Exchange of (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 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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 10:44 IST