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Last Updated : Feb 24, 2018 11:57 AM IST | Source: PTI

HG Infra Engineering raises Rs 138 cr from anchor investors

The IPO committee has finalised allocation of 51,33,150 equity shares to as many as 11 anchor investors at Rs 270 apiece, also the upper price band for the offer, the company informed the stock exchanges.

HG Infra Engineering said it has garnered over Rs 138 crore from anchor investors ahead of its initial share-sale that opens on Monday.

The IPO committee has finalised allocation of 51,33,150 equity shares to as many as 11 anchor investors at Rs 270 apiece, also the upper price band for the offer, the company informed the stock exchanges.

At this price, the total amount works out to be Rs 138.59 crore, it added.

Among the anchor investors are SBI Infrastructure Fund, DSP BlackRock India Tiger Fund, UTI - Infrastructure Fund and IDFC Infrastructure Fund.

The company's Rs 462-crore initial public offer (IPO) will open for public subscription on February 26-28, with a price band of Rs 263-270 per share.

The IPO consists of a fresh issue of shares aggregating up to Rs 300 crore and an offer for sale of up to 60 lakh scrips by the existing shareholders.

At the upper end of the price band, the public issue is expected to fetch Rs 462 crore.

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 will manage the company's IPO.
First Published on Feb 23, 2018 10:36 pm
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