HG Infra Engineering today made a tepid debut on the bourses, with its shares listing at Rs 270 -- the same as the issue price.
Within minutes of listing, shares of the company touched an intra-day high of Rs 276, before touching a low of Rs 252.60 on the BSE. The shares finally settled at Rs 270.05.
On the NSE, the stock listed at Rs 270 and then touched an early high of Rs 276 and a low of Rs 252.10. It closed the trading session at Rs 265.80.
HG Infra Engineering raised Rs 462 crore through its initial public offer (IPO).
The 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 fresh issue of shares aggregating up to Rs 300 crore besides an offer for sale of up to 60 lakh scrips by the existing shareholders.
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 managed the company's IPO.
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