HG Infra Engineering will open its initial public offering (IPO), for subscription on February 26, with a price band of Rs.263-270 per share.

The IPO will be closed for subscription on February 28. It consists of a fresh issue of up to Rs.300 crore and offer for sale of up to 60 lakh equity shares. The offer for sale comprises selling of up to 10 lakh shares each by Harendra Singh, Vijendra Singh and Girish Pal Singh; and up to 30 lakh shares by Hodal Singh, the promoter group selling shareholder.

The company via its IPO aims to raise Rs.462 crore and the net proceeds will be used for purchasing capital equipment, repayment of debt and general corporate purposes. Further, SBI Capital Markets and HDFC Bank are the book running lead managers to the offer.

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