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The initial public offer of HG Infra Engineering was oversubscribed 3 times so far on the last day of bidding today.
The IPO received bids for 3,73,68,100 shares against the total issue size of 1,21,37,070 shares, data available with the NSE till 3.15 pm showed. Till yesterday, the IPO was subscribed 44 per cent.
The offer consists a fresh issue of up to Rs 300 crore and an offer for sale (OFS) of up to 6,000,000 shares (excluding anchor portion of 5,133,150 shares). The issue price was fixed at Rs 263-270.
HG Infra Engineering had garnered over Rs 138 crore from anchor investors last week.
Proceeds of the IPO will be utilised towards purchase of capital equipment, repayment of certain indebtedness, and for other general corporate purposes. SBI Capital Markets and HDFC Bank were the book-running lead managers to the issue.
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