H G Infra Engineering to make debut on stock exchanges on Friday

A road sign is seen next to Bombay Stock Exchange (BSE) building in Mumbai, India | Photo: Reuters
HG Infra Engineering, which has raised Rs 4.62 billion through initial public offer (IPO), will list its shares on stock exchanges on Friday.

The equity shares will be listed on National Stock Exchange (NSE) as well as on BSE.

This will be the sixth listing of the year after Aster DM Healthcare, which made its debut last month.

HG Infra's 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 a fresh issue of shares aggregating up to Rs 3 billion besides an offer for sale of up to 6 million scrips by the existing shareholders.

Proceeds of the IPO will be utilised towards the purchase of capital equipment, repayment of certain indebtedness, and for other general corporate purposes. SBI Capital Markets and HDFC Bank managed the company's IPO.

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