HPL Electric IPO Subscribed 8 Times On Final Day Despite Slow Start
HPL Electric & Power's Rs 361-crore initial public offering was subscribed nearly eight times at the close of bidding on Monday. The IPO received bids for over 11.53 crore shares as against the total issue size of 1,44,40,001, translating into a subscription of 7.98 times till 7:00 pm, data available with National Exchange Stock showed.
The quota reserved for qualified institutional buyers was subscribed 5.77 times, while that of non-institutional investors got subscribed 22.2 times. The portion reserved for retail investors was subscribed 2.4 times.
HPL Electric has already mopped up Rs 108 crore from anchor investors by selling shares at Rs 202 apiece.
The price band for the Rs 361-crore IPO has been fixed at Rs 175-202 per share. The public issue opened on September 22 and will close on Monday. Proceeds of the issue will be utilised for repayment of loans, funding working capital requirements and other general corporate purposes.
Shares of the company will be listed on BSE and NSE. The issue is being managed by SBI Capital Markets, ICICI Securities and IDFC Bank.
This is the 20th IPO to have hit the market so far this year. HPL Electric makes metering solutions, switchgears, lighting equipment and wires and cables, among others.
-
Unhedged Position | Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
