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Business News/ Home-page / Hindustan Aeronautics IPO subscribed 24% on Day 1
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Hindustan Aeronautics IPO subscribed 24% on Day 1

Hindustan Aeronautics IPO, aims to raise Rs4,230 crore, received bids for 81,09,300 shares against the total issue size of 3,41,07,525 shares

Hindustan Aeronautics Ltd (HAL) has set a price band of Rs1,215 to Rs1,240 per share for the IPO, and will close on 20 March. Photo: iStockPremium
Hindustan Aeronautics Ltd (HAL) has set a price band of Rs1,215 to Rs1,240 per share for the IPO, and will close on 20 March. Photo: iStock

New Delhi: The Rs4,230 crore initial public offer of state-owned Hindustan Aeronautics Ltd (HAL) was subscribed 24% on the first day of bidding on Friday.

The issue through which the company aims to raise Rs4,230 crore received bids for 81,09,300 shares against the total issue size of 3,41,07,525 shares

The category reserved for qualified institutional buyers (QIBs) was subscribed 43%, non institutional investors 1% and retail investors 7%. HAL has set a price band of Rs1,215 to Rs1,240 per share for the IPO, and will close on 20 March.

The Bengaluru-based firm’s IPO is of up to 34,107,525 shares. SBI Capital Markets and Axis Capital are managing the IPO. The shares are proposed to be listed on BSE and NSE.

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Published: 17 Mar 2018, 09:44 AM IST
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