Shares of H G Infra Engineering Limited listed on the bourses and barely managed to hold on to the issue price. The company had tapped the capital markets with its simultaneous issue which consisted of a fresh issue of Rs 300 crs and an offer for sale of Rs 300 crs in a price band of Rs 263-270. The issue was subscribed 4.98 times overall with the QIB portion subscribed 8.37 times, HNI portion subscribed 3.08 times and Retail portion subscribed 3.08 times.

The company had earlier allocated 51,33,150 equity shares to 11 anchor investors comprising of 22 entities. The allocation was done at Rs 270. The highest allocation was done to HDFC mutual fund and DSP Blackrock of 5,99,995 shares a piece or 11.69% of the anchor allocation. The issue was open from Monday the 26th of February to Wednesday the 28th of February.

The discovered price was Rs 270 on both the exchanges. The high of the day was Rs 276 on both the exchanges. The low was Rs 252.60 on BSE and Rs 252.10 on NSE. The closing price was Rs 270.05, a gain of Rs 0.05 or 0.02% on the BSE. The same on NSE was Rs 267.65, a loss of Rs 2.35 or 0.87%. The traded volume was 191.01 lac shares which was 85.96% of the issue size of 2.22 cr shares. Delivery volume was 52.60 lac shares which was 27.54% of the traded volume and 23.67% of the IPO size. If one were to consider the non-anchor portion than the delivery percentage was 30.78%. The weighted average of the day’s trade was Rs 268.71 on BSE and Rs 268.04 on NSE.

There were two trades which were reported on the NSE. In the first Florence Securities Pvt Limited bought 3.45 lakh shares at Rs 270. In the second trade, Manohar Kodem bought 73,000 shares at Rs 265.43.

The share has just about survived day one of listing. Some amount of selling pressure was seen on listing day and with about a fourth of the shares delivered or changing hands, some sort of relief should be there. The share is likely to trade softer in the coming days and likely to make a base around 6-8% lower than the issue price.