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HG Infra makes muted debut; stock lists at issue price

Press Trust of India  |  New Delhi 

HG Infra Engineering today made a muted debut on the bourses, with its shares listing at 270 -- the same as the issue price.

Within minutes of listing, the shares of the company touched an intra-day high of 274.70, before touching a low of 263.60 on the

On the NSE, the stock opened at Rs 270 and then touched an early high of Rs 274.70 and a low of Rs 265.

HG Infra Engineering raised Rs 462 crore through its initial public offer (IPO).

The IPO, which opened for subscription during February 26-28, was subscribed five times at a price band of Rs 263-270 per share.

The IPO comprised fresh issue of shares aggregating up to Rs 300 crore besides an offer for sale of up to 60 lakh scrips by the existing shareholders.

Proceeds of the IPO will be utilised towards purchase of capital equipment, repayment of certain indebtedness and for other and managed the companys IPO.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 10:40 IST