The Rs 61 crore preliminary public providing (IPO) of Likhitha Infrastructure will open for subscription on Tuesday, i.e. September 29, 2020. The share providing of the oil & gasoline pipeline infrastructure service supplier will likely be open for 3 buying and selling days, from September 29 to October 1, 2020. The shares of Likhitha Infrastructure are prone to be listed on the BSE and NSE, on October 12.
The firm has fastened the worth band of the share providing at Rs 117-Rs 120 per share. It plans to boost Rs 61.20 crore on the greater finish of the worth band.
The preliminary public providing consists of a recent subject of as much as 51 lakh fairness shares, representing 25.86 per cent of the corporate’s put up subject paid-up fairness capital. The IPO proceeds will likely be utilised in direction of working capital necessities and for common company functions.
Investors can bid for a minimal one lot of 125 shares and in multiples thereof, as much as a most of 13 tons.
Unistone Capital is the lead supervisor of the IPO and Bigshare Services is the registrar.
Likhitha Infrastructure is an oil & gasoline pipeline infrastructure service supplier, laying pipeline networks and offering operations and upkeep providers to metropolis gasoline distribution firms throughout the nation. Srinivasa Rao Gaddipati and Likhitha Gaddipati are the promoters of Likhitha Infrastructure.
The Likhitha Infrastructure IPO would be the eleventh this 12 months, after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals, Angel Broking, UTI AMC and Mazagon Dock Shipbuilders.