 "HPL Electric & Power lists below issue price")
HPL Electric & Power got listed at Rs 190, 6% below its issue price of Rs 202 per share, on the National Stock Exchange (NSE). LINK
At 10:01 am, the stock was trading at Rs 192, after hitting a low of Rs 188, post its listing. It has touched a high of Rs 198 so far. A combined 3.06 million shares changed hands on the counter on the NSE and BSE.
The Rs 360-crore initial public offering (IPO) of HPL Electric & Power, electrical equipment manufacturer, oversubscribed 8 times to its issue size. The institutional investor portion of the IPO was subscribed 5.77 times, high networth individual category (HNI) category was subscribed 22 times, while retail investor segment was subscribed 3.31 times, the exchange data shows.
The company will raise the IPO proceeds towards repayment of loans, for funding working capital requirements and for general corporate purposes. HPL Electric is a manufacturer of electrical equipment, such as metering solutions, switchgears and wires under the HPL brand.
At 10:01 am, the stock was trading at Rs 192, after hitting a low of Rs 188, post its listing. It has touched a high of Rs 198 so far. A combined 3.06 million shares changed hands on the counter on the NSE and BSE.
The Rs 360-crore initial public offering (IPO) of HPL Electric & Power, electrical equipment manufacturer, oversubscribed 8 times to its issue size. The institutional investor portion of the IPO was subscribed 5.77 times, high networth individual category (HNI) category was subscribed 22 times, while retail investor segment was subscribed 3.31 times, the exchange data shows.
The company will raise the IPO proceeds towards repayment of loans, for funding working capital requirements and for general corporate purposes. HPL Electric is a manufacturer of electrical equipment, such as metering solutions, switchgears and wires under the HPL brand.