Hindustan Aeronautics Makes Weak Stock Market Debut — Shares of the Bangalore-based aerospace and defence products maker made a weak debut on stock exchanges. The stock opened for trading at Rs 1,169, down 5.7 percent from its issue price of Rs 1,240.
It fell as much as 7.25 percent to hit low of Rs 1,150.
The IPO of Hindustan Aeronautics, the maker of Sukhoi aircrafts, had aimed to raise Rs 4,200 crore from its three-day offer that ended a week ago. By the time the offer closed, it had managed to raise only Rs 4,088 crore as demand from non-institutional and retail investors remained muted.
