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Hindustan Aeronautics ends with over 7% discount
Shares of Hindustan Aeronautics settled at Rs 1128.35 on BSE, a discount of 7.13% from the issue price of Rs 1,215 on its debut on the bourses today, 28 March 2018.

Meanwhile, the S&P BSE Sensex fell 205.71 points or 0.62% at 32,968.68.

Shares of Hindustan Aeronautics listed on the BSE at Rs 1,169, a discount of 3.78% over the issue price of Rs 1,215. The stock had hit a high of Rs 1,184 and low of Rs 1,117.60 in intraday trade. About 2.17 lakh shares were traded on the counter on the BSE.

The initial public offer (IPO) of Hindustan Aeronautics received bids for 3.37 crore shares, National Stock Exchange of India (NSE) data showed. The issue was subscribed 0.99 times. The price band for the IPO was Rs 1,215 to Rs 1,240 per share. The IPO opened on 16 March 2018 and closed on 20 March 2018.

Category-wise subscription details showed that the qualified institutional buyers (QIBs) category was subscribed 1.73 times, the non-institutional investors category was subscribed 0.03 times and the retail individual investors (RIIs) category received subscription of 0.39 times.

On a consolidated basis, Hindustan Aeronautics reported a net profit of Rs 389.70 crore on net sales of Rs 5172.50 crore in the six months ended September 2017.

Hindustan Aeronautics is a defence public sector undertaking engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.

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