The IPO of Hindustan Aeronautics Ltd (HAL) was Subscribed in 47% so far on the last day so far of the share sale on Tuesday.
As of 12.30pm, the IPO got bids for 16,104,804 shares against the aggregate issue size of 34,107,525, as indicated by NSE information. On Monday, the IPO saw a subscription of 45%.
The cateogory held for qualified institutional purchasers was bought in 77%, non-institutional financial specialists 1% and retail speculators 20%.
The Organization has set a price band of Rs1,215 to Rs1,240 per share for the IPO, which closes on 20 March. The government plans to raise Rs4,000 crore by offering 10.2% stake in HAL.
The organization gives end-to-end business operations containing product research, design and advancement, manufacturing and provision of maintenance, repair and overall service, covering the entire operational existence of its items. Throughout the years, it has effectively exhibited innovative work (R&D) abilities in creating military flying machine and helicopters.
