On the last day of bidding, the initial public offer (IPO) of HPL Electric & Power was fully subscribed till afternoon trade

Speaking on the companys plans for the future, Gautam Seth, Jt MD, HPL Electric and Power told CNBC-TV18 that the proceeds from the IPO would be used to repay Rs 130 crore debt and post that the debt will be around Rs 200 crore.

The money garnered will help improve working capital going forward.

The current capacity utilisation for the company stands at 60-70 percent.

Below is the verbatim transcript of Gautam Seth’s interview to Reema Tendulkar & Prashant Nair.

Prashant: Could you tell us how the issue is doing?

A: We have seen a very good retail response including response coming i…

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