Hindustan Aeronautics IPO subscribed 45% on Day 2

Hindustan Aeronautics IPO subscribed 45% on Day 2

New Delhi, Mar 19 (PTI) State-owned Hindustan Aeronautics initial public offer was subscribed 45 per cent on the second day of bidding today.

The IPO, through which the Bengaluru-based firm aims to raise Rs 4,229 crore, received bids for 1,53,96,864 shares against the total issue size of 3,41,07,525 shares, data available with the NSE showed.

The category reserved for qualified institutional buyers (QIBs) was subscribed 77 per cent, non institutional investors 1 per cent and retail investors 20 per cent, merchant banking sources said.

The IPO is of 34,107,525 shares and is scheduled to close tomorrow.

The price band for the issue has been fixed at Rs 1215-1240.

SBI Capital Markets and Axis Capital are managing the issue. PTI