The IPO of Hindustan Aeronautics Limited opens on 16 March and closes on 20 March. The company is offering shares in the price band of Rs 1215 - Rs 1240. A discounts of Rs 25 per share will be applicable to retail investors and employees.
About Hindustan Aeronautics Limited
HAL engages 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. The company is also a Navaratna. Indian Defence accounts for about 93%(As of FY17) of the company’s revenues.
The company’s operations are organized into 5 complexes Its - Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex. They include 20 production divisions and 11 research and design facilities located across India.
As of December 31st the orderbook of the company stood at Rs 68,461 crore.
Purpose of the issue
The entire proceeds of the issue will go to govt. The IPO is necessitated in part to meet the disinvestment target of the govt.
The issue consists of an offer for sale (OFS) 36,150,000 shares.
Issue opens - March 16th
Issue close - March 20th
Issue size - ₹ 4216 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 12 shares
Basis of allotment - 26 March
Refunds - 27 March
Credit of shares - 27 March
Listing 28 March
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