 "Hindustan Aeronautics IPO subscribed 99% on final day")
The initial public offer of state-owned Hindustan Aeronautics has subscribed 99 per cent on the final day of the bidding today.
The issue, through which the Bengaluru-based firm aims to raise Rs 4, received bids for 3,37,37,556 shares against the total issue size of 3,41,07,525 shares, data available with the NSE till 1945 hrs showed.
The category reserved for qualified institutional buyers (QIBs) was subscribed 1.73 times, non-institutional investors 3 per cent and retail investors 38 per cent, merchant banking sources said.
The IPO is in a price band of Rs 1,215-1,240. SBI Capital Markets and Axis Capital are managing the issue.