Hindustan Aeronautics Ltd shares fall 7% from IPO price on listing in lukewarm stock market debut – Financial Express

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Hindustan Aeronautics Limited share price: Hindustan Aeronautics Limited stock price NSE: Rs 1,152 (at opening). (Image: AP)

Hindustan Aeronautics Limited share price: Hindustan Aeronautics Limited shares listed at a discount on Wednesday marking a weak stock market debut after the state-run defence-PSU Hindustan Aeronautics Limited recently winded up its IPO. Hindustan Aeronautics Limited decided to list the shares after seven days of the last day of subscription of Hindustan Aeronautics IPO. Hindustan Aeronautics IPO listing date: 28 March 2018, the last working day of the financial year 2017-2018. Hindustan Aeronautics Limited stock price NSE: Rs 1,152 (opening price); Hindustan Aeronautics Limited stock price BSE: Rs 1,169 (opening price). Hindustan Aeronautics share listing is the last listing of a company on the stock market in the financial year 2017-2018.

Shares of Hindustan Aeronautics Limited fell as much as 7.25% to a day’s low of Rs 1,150 after opening at Rs 1,152 on NSE while the stock price of Hindustan Aeronautics Limited also tumbled 7.25% to Rs 1,150 after opening at Rs 1,169 on BSE. The equity shares of Hindustan Aeronautics Limited with a scrip code: 541154 are listed and admitted to dealings on the exchange on the list of ‘B’ group securities, Hindustan Aeronautics Limited said in a BSE filing. A normal trading volume was observed in the shares of Hindustan Aeronautics Limited, as at 10:35 am, more than 11 lakh shares exchanged hands on both NSE and BSE with about 10 lakh on NSE alone.

Hindustan Aeronautics Limited IPO was undersubscribed on the last day of subscription despite an overbidding by institutional investors. Hindustan Aeronautics Limited IPO was subscribed 99% in the three-day bidding process from 16 to 20 March 2018. The public offer of Hindustan Aeronautics Ltd is one of the last IPOs out of the government’s disinvestment program of Rs 72,500 crore for the financial year 2017-2018. Despite providing a discount of Rs 25 per equity share on the IPO price of Rs 1,215 to Rs 1,240 to the retail investors and eligible employees, the IPO (initial public offering) of Hindustan Aeronautics Limited remain undersubscribed.

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