New Delhi, Mar 20 (PTI) The initial public offer of state-owned Hindustan Aeronautics was subscribed 99 per cent on the final day of the bidding today.

The issue, through which the Bengaluru-based firm aims to raise Rs 4,229 crore, received bids for 3,37,37,556 shares against the total issue size of 3,41,07,525 shares, data available with the NSE till 1945 hrs showed.

The category reserved for qualified institutional buyers (QIBs) was subscribed 1.73 times, non institutional investors 3 per cent and retail investors 38 per cent, merchant banking sources said.

The IPO is in a price band of Rs 1,215-1,240.

SBI Capital Markets and Axis Capital are managing the issue.

This is published unedited from the PTI feed.