Hindustan Aeronautics’ Rs 4,200 crore IPO to open on March 16

Mumbai: Hindustan Aeronautics has fixed its initial public offering price band of Rs 1,215 to Rs 1,240 apiece.

The issue of the aerospace company opens for subscription on March 16 and closes on March 20. The Bangalore-based company is raising Rs 4,200 crore through an offer for sale by the government.

The government is diluting 10.2 per cent of its stake in the company and is giving a discount of Rs 25 per share to retail investors. SBI Capital Markets and Axis Capital are bankers to the issue.