While a strong order book has been the key driver, most companies believe the execution of projects has significantly improved as key flagship government projects reach the completion stage.
Harendra Singh, MD, HG Infra Engineering said the order inflow has picked up in Q4 and the trend is likely to continue in FY19.
The stock price jumped to day's high of Rs 274.70 in early trade, but immediately slipped and hit a low of Rs 265.
The equity shares will be listed on National Stock Exchange (NSE) as well as on BSE.
The IPO received bids for 3,73,68,100 shares against the total issue size of 1,21,37,070 shares, data available with the NSE till 1515 hrs showed.
Strong earnings visibility and attractive valuations makes HG Infra’s IPO worth applying.
HEM Securities has come out with its report on HG Infra Engineering IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on February 26 , 2018
HG Infra aims to raise Rs 462 crore through the issue at a price of Rs 270 per share.