HG Infra Engineering IPO status on day 3

HG Infra Engineering's IPO to raise ~Rs. 300 crore through fresh issue and Rs. 162 crore through offer for sale has been fully subscribed on its last day, February 28, 2018.

HG Infra Engineering's IPO to raise ~Rs. 300 crore through fresh issue and Rs. 162 crore through offer for sale is in its last day of subscription on Friday. The issue opened on February 26 and close on February 28, 2018.

Overall, the investors have subscribed to the IPO by 1.05 times till 2pm. The data from NSE reported that the issue has received bids of 1,27,54,775 shares as against the issue size of 1,21,37,070 shares. Qualified Institutional Investors (QIP) and retail investors subscribed the issue 1.9 times each.

Proceeds of the IPO will be utilized towards purchase of capital equipment, repayment of its loan, and for other general corporate purposes. HDFC Bank and SBI Capital Markets are the book running lead managers for this issue.

The company is engaged in infrastructure construction, development and management and is focused on highways, road projects, bridges and flyovers.