 "The construction cost for developers has gone down with projects being completed within the timeframe, a source said")
HG Infra Engineering's Rs 4.6-billion IPO was subscribed 44 times a day before its close. Bulk of the subscription so far has come from retail investors.
HG Infra is a construction firm with a focus on road projects. The price band for the IPO is Rs 263 to Rs 270 per share.
The IPO comprises of fresh capital raising worth Rs 3 billion, of which Rs 900 million will be used to buy new equipment and Rs 1.2 billion for repayment of debt.
At the top-end of the price band, HG Infra will have a post-issue market cap of Rs
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