Hindustan Aeronautics IPO

Hindustan Aeronautics IPOBusiness description – Hindustan Aeronautics is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures. Its operations are organised into five complexes, namely the Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex, which together include 20 production divisions and 11 research and design centres (R&D Centres) located across India. Hindustan Aeronautics rely on indigenous research as well as enter into technology transfer and licence agreements to manufacture its products. In addition, it has entered into 13 commercial joint ventures to grow operations.

The company was conferred with the Navratna status by the GoI in June 2007 which provides it with strategic and operational autonomy and enhanced powers to make prompt investment decisions, subject to an overall investment ceiling set by the GoI. Hindustan Aeronautics signs a memorandum of understanding with the MoD on a yearly basis, which outlines various targeted performance parameters for a given year. The company has also received an “Excellent” rating from the GoI every year from the Financial Years 2002 to 2016.

Promoters of Hindustan Aeronautics – The President of India

Hindustan Aeronautics IPO details
Subscription Dates 16 – 20 March 2018
Price Band INR1,215 – 1,240 (Discount of INR25 per share for employees and retail investors)
Fresh issue Nil
Offer For Sale 34,107,525 shares (INR4,144.06 – 4,229.33 crore)
Total IPO size 34,107,525 shares (INR4,144.06 – 4,229.33 crore)
Minimum bid (lot size) 12 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Hindustan Aeronautics’ financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 H1 FY2018
Total revenue 17,221.4 17,327.6  17,362.0 18,754.8 19,596.9 5,665.9
Total expenses 13,470.9 13,676.9 15,688.6 15,553.4 16,021.9 5,057.6
Profit after tax 3,217.2 2,541.1 929.0 2,011.1 2,630.8 384.5

FY2013 and FY2014 figures are based on Indian GAAP accounting standards. 

Financial figures for subsequent years are based on Indian Accounting Standards (Ind-AS).

Hindustan Aeronautics Limited 
Cubbon Road
Bengaluru 560 001

Phone: +91 80 2232 0001
+91 80 2232 0758
[email protected]
Website: www.hal-india.com

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
 +91 40 2343 1551 
 [email protected]
Website: www.karvycomputershare.com

Earnings Per Share (EPS): INR73.0

Price/Earnings (P/E) ratio: 16.64 – 16.98

Return on Net Worth (RONW): 21%

Net Asset Value (NAV): INR347.0 per share

Hindustan Aeronautics IPO Subscription Details

Category Shares offered Subscription (no. of times)
Day 1 Day 2 Day 3
QIB 16,719,374 0.43 0.76 1.72
NII 5,015,813 0.01 0.01 0.03
Retail 11,703,563 0.07 0.20 0.37
Employees 668,775 0.03 0.11 0.20
Total 34,107,525 0.24  0.44 0.98

Hindustan Aeronautics IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.

IPO Opening Date: 16 March 2018

IPO Closing Date: 20 March 2018

Finalisation of Basis of Allotment: 26 March 2018

Initiation of refunds: 27 March 2018

Transfer of shares to demat accounts: 27 March 2018

Listing Date: 28 March 2018

Listing Price on NSE: INR1,152.0 per share (down 3.19% from IPO price for retail investors)

Closing Price on NSE: INR1,132.85 per share (down 4.80% from IPO price for retail investors)


  1. HAL ipo good fundamentally. But i don’t think so valuation so high. Some listing gain definately. But not huge gain. So aply this ipo.

  2. Since, IPO was not subscribed 100%; it there any possibilities to reduce the cut off price of each shares. Kindly share your thought. Thanks


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