Price band for HAL IPO has been fixed at Rs. 1,215 to Rs. 1,240

Hindustan Aeronautics IPO opened on Monday for the second day of subscription and was subscribed 45% by 5 pm. Out of the total issue size of 3,41,07,525, HAL received bids for 153 lakh. The public issue will close on March 20. Hindustan Aeronautics (HAL) is a fully-owned Government of India undertaking under the administrative control of Ministry of Defence, Department of Defence Production. The authorised capital of HAL is Rs. 600 Crore consisting of 60,00,00,000 equity shares having face value of Rs. 10 each.

The current programs under progress of the IPO-bound Hindustan Aeronautics are production of SU-30 MKI, Hawk-AJT, Light Combat Aircraft (LCA), DO-228 Aircraft, Dhruv-ALH and Cheetal Helicopters, Repair Overhaul of Jaguar, Kiran MkI/IA/II, Mirage, HS-748, AN-32, MiG 21, Su-30MKI, DO-228 aircraft and ALH, Cheetah/Chetak helicopters.

The Company takes up maintenance and overhaul services to cover the life cycle requirement of all the old and new products. Presently, 13 types of aircraft/ helicopters and 17 types of engines are being overhauled. In addition, facilities exist for repair/ overhaul of various accessories and avionics fitted on aircraft of Russian, Western and Indigenous designs.