The offer for sale from Hindustan Aeronautics Limited (HAL) was just about subscribed. The company had tapped the capital markets with its offer for sale of 3,41,07,525 shares in a price band of Rs 1,215 – 1240 with a discount of Rs 25 for retail bidders and employees. As is the practice there was no anchor allocation being a government or PSU issue.

The issue was just about subscribed with LIC putting in large bids. The QIB portion was subscribed 1.72 times. The HNI portion was undersubscribed at 0.03 times, Retail undersubscribed at 0.39 times and employee portion undersubscribed at 0.21 times. The overall issue was subscribed 0.99 times.

There were no FII bids which is probably because of the fact that being a defence company they were not allowed to bid for the same.

There were 2.11 lakh applications which indicates that against the lot size of 12, the average application was for 21 shares.

The full details of subscription are given below: –