Stock Watch-HG Infra stock lists at issue price

Shares of HG Infra Engineering Limited (HGIEL) on Friday made a subdued debut on the Exchanges with its shares listing at Rs.270.00 apiece, equal to the issue price. The shares touched an intraday high of Rs 274.70, and a low of Rs 263.60 on the BSE. On the NSE too, the stock opened at Rs 270 and it touched an intraday high and a low of Rs 274.70 and Rs 265 respectively.

The company raised Rs 462 crore through its IPO. The offer, which opened for subscription during Feb 26 to 28, was subscribed 5-times at a price band of Rs 263 to 270 per share.

HG Infra Engineering Limited reported profit after tax (PAT), on a consolidated basis, of Rs 29.20 cr on net sales of Rs 567.34 cr in the half year ended 30 Sept 2017.

The company is Rajasthan-based, which undertakes infrastructure construction, development and management. The core business includes offering engineering, procurement and construction services on a fixed-sum turnkey basis and carrying out civil construction and allied infrastructure projects.

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