Hindustan Aeronautics Ltd (HAL)'s IPO, to raise up to Rs 4,200 crore, is subscribed nearly 26% by noon on its second day. The issue is available at a price band of Rs 1215-1240 per share.
HAL is a 100 percent government held Navratna company and the largest defence public sector undertaking.
M Chamola, Officiating Chairman and Managing Director, HAL in an interview to CNBCTV18 said that the company currently has 20 production units and 11 research and development centers.
He further said that a new facility to manufacture Light Combat Helicopter (LCH) will be coming up near Bengaluru which will enhance manufacturing capacity from 8 to 16 helicopters.
Manufacturing Light Combat Aircraft (LCA) will strengthen business prospects of the company, he said.
Chamola said HAL's current order-book stands at Rs 68,000 crore and 90 percent of the orders are from defence, while remaining are civil orders.