The Rs 4,229-crore initial public offer of state-owned Hindustan Aeronautics was subscribed 99 per cent during March 16-20, 2018, supported by QIB.
The shares of Hindustan Aeronautics made a pale entry into key indices on Wednesday. On its debutday, the company's stocks fell more than four per cent from the final issue price of Rs 1,215.
The stock price of Hindustan Aeronautics opened at Rs 1,159 on the National Stock Exchange while it started off trade at Rs 1,169 on the BSE, witnessing a fall of four per cent.
The Rs 4,229-crore initial public offer of state-owned Hindustan Aeronautics was subscribed 99 per cent during March 16-20, 2018, supported by QIB.
The issue through which the company aimed to raise Rs 4,230 crore received bids for 81,09,300 shares against the total issue size of 3,41,07,525 shares, as per data available with the NSE till 1700 hrs.
The category reserved for qualified institutional buyers (QIBs) was subscribed 43 per cent, non institutional investors 1 per cent and retail investors 7 per cent.
The offer is in a price band of Rs 1,215-1,240 which closed on March 20.
Bengaluru-based firm, Hindustan Aeronautics's IPO is of up to 34,107,525 shares.
Hindustan Aeronautics (HAL) is a state-owned company with Navratna status conferred in June 2007. It is the largest defence PSU in terms of value of production, according to the MoD Annual Report 2016-17.
The Company which had its origin as the Hindustan Aircraft Limited was incorporated in 1940 in association with the Government of Mysore with an Authorised Capital of Rs 4 crore.
It was aimed to manufacture aircraft in India.
In March 1941, the Government of India became one of the shareholders in the Company holding 1/3 of its paid-up capital and subsequently took over its management in 1942.
In collaboration with the Inter Continental Aircraft Company of USA, Hindustan Aircraft Company commenced its business of manufacturing of Harlow Trainer, Curtiss Hawk Fighter and Vultee Bomber Aircraft.
The programs under progress at HAL are production of SU-30 MKI, Hawk-AJT, Light Combat Aircraft (LCA), DO-228 Aircraft, Dhruv-ALH and Cheetal Helicopters, Repair Overhaul of Jaguar, Kiran MkI/IA/II, Mirage, HS-748, AN-32, MiG 21, Su-30MKI, DO-228 aircraft and ALH, Cheetah / Chetak helicopters.
The Company takes up maintenance and overhaul services to cover the life cycle requirement of all the old and new products. Presently, 13 types of aircraft/ helicopters and 17 types of engines are being overhauled.
In addition, facilities exist for repair/ overhaul of various accessories and avionics fitted on aircraft of Russian, Western and Indigenous designs.
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 "Hindustan Aeronautics makes weak debut, shares fall more than 4% from issue price")
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