your password has been reset successfully, Please login again.

HG Infra Engineering has raised Rs.138 crore prior IPO

HG Infra Engineering has raised Rs.138 crore prior IPO through anchor investors.
BY BEx Bureau
BusinessEx
Feb 26, 2018

Jodhpur-based infrastructure construction firm HG Infra Engineering has raised Rs.138 crore by selling shares to anchor investors before initial public offering took place. The anchor investors bought these shares on Friday as per stock exchange release. The IPO begins today.

The filing further revealed that the construction firm allotted 3.13 million shares in the price band of Rs.263-270 to 10 asset management companies and one insurer.

The anchor investors are DSP BlackRock India Tiger Fund, HDFC, SBI Mutual Fund, Aditya Birla Sun Life, Reliance Capital, LT Mutual Fund, UTI Mutual Fund, Kotak Mutual Fund, IDFC Asset Management, and HSBC Mutual Fund bought shares. Aditya Birla Sun Life Insurance was the sole insurer who also took part.

The companys total issue size at the upper end is pegged at Rs.462 crore. The IPO will be open from 26 to 28 February 2018. The company will issue fresh shares worth Rs.300 crore while its promoters will sell 6 million shares worth RS.162 crore.

The company plans to use Rs.90 crore of the raised funding to buy better equipment, and approx. Rs.115 crore to repay debt and an undisclosed amount for general corporate purposes.

Please add your Comment
SIMILAR News
June 13, 2018
It announced in April to bring its stake to 21 percent ...More
By Sanjana Surbhi
June 13, 2018
The fund plans to invest in seven to eight startups this year ...More
By Sanjana Surbhi
June 12, 2018
About 80% of V-Mart’s stores are located in cities with a population below one million ...More
By Sanjana Surbhi
June 08, 2018
Sunil Sood has been the MD and CEO of Vodafone India since April 2015 ...More
By Sanjana Surbhi
June 08, 2018
Reliance is set to become one of the largest non-conventional gas producers in India through the pro ...More
By Sanjana Surbhi
June 01, 2018
Sequoia India, which first invested in Pine Labs in 2009, remains the company’s largest shareholder ...More
By Sanjana Surbhi
June 01, 2018
Maiya initially raised funds from Ascent Capital and later from Peepul Capital ...More
By Sanjana Surbhi
May 31, 2018
WeWork operates nearly 1-million-sqft space at present and has a million sqft more signed up already ...More
By Sanjana Surbhi
May 31, 2018
Uber received $1.25 billion from a large deal with SoftBank in January ...More
By Sanjana Surbhi
May 31, 2018
The telecom settled its eight month dispute with Swedish telecom equipment maker Ericsson ...More
By Sanjana Surbhi
May 31, 2018
Azim Premji invests in private companies to become prosperous public companies ...More
By Sanjana Surbhi
May 30, 2018
The Italian company deals with bio-stimulus and speciality nutrients products for agriculture ...More
By Sanjana Surbhi