Hindustan Aeronautics makes stock market debut, gets lukewarm response

New Delhi: Hindustan Aeronautics, which recently concluded its initial public offer, made its stock market debut on both BSE and NSE on Wednesday. HAL listed at Rs 1,169 on the BSE, down 3.8 percent. On the NSE, it got listed at Rs 1,152, down 5.19 percent.

In terms of equity volume, 1.15 lakh shares were traded on BSE and over 9 lakh shares changed hands at NSE during the morning trade. The company's market valuation stood at Rs 38,969.52 crore.

The IPO of the Bengaluru-based firm was open during March 16-20 and was subscribed 99 percent.

The state-owned firm's IPO was of 34,107,525 shares. The price band for the offer was fixed at Rs 1,215-1240.The category reserved for qualified institutional buyers (QIBs) was subscribed 1.73 times, non-institutional investors 3 per cent and retail investors 38 per cent, merchant banking sources said.

SBI Capital Markets and Axis Capital managed HAL's initial share sale offer.

On the other hand Shares of Kolkata-based Bandhan Bank made a stellar debut at the bourses on Tuesday and ended over 27 percent higher against its issue price of Rs 375. The company's market valuation stood at Rs 56,920.65 crore making it India's 8th most valued bank.

The stock listed at Rs 485, a sharp gain of 29.33 percent over the issue price on BSE. Intra-day, it jumped 32.90 percent to Rs 498.40. It finally ended at Rs 477.20, up 27.25 percent.

On NSE, shares of the company zoomed 27.16 percent to settle at Rs 476.85.

In terms of equity volume, 139.07 lakh shares of the company were traded on BSE and over 9 crore shares changed hands on NSE during the day.

The Rs 4,473-crore initial public offer of Bandhan Bank was subscribed 14.62 times during March 15-19.

With PTI Inputs