Udayshivakumar Infra shares list at discount to IPO issue price
- Udayshivakumar Infra IPO was subscribed 32.49 times by the third day of subscription
Shares of Udayshivakumar Infra made their positive market debut on Thursday with the stock listing at ₹30 apiece on the National Stock Exchange (NSE), a discount of more than of 14% as compared to its IPO issue price of ₹35 per share. On the BSE, Udayshivakumar Infra shares started trading at ₹33 a piece.
Udayshivakumar Infra Ltd's initial public offering (IPO) was subscribed 32.49 times by the third day of subscription, helped by huge interest from institutional investors, on Wednesday, March 23, 2023 that opened on Monday, March 20, 2023. The issue was priced in a range of ₹33-35 a share. The offer received bids for over 61.26 crore shares against 2 crore shares on offer, as per the exchange data.
The portion for non-institutional investors was subscribed a whopping 60.42 times, while Qualified Institutional Buyers (QIBs) quota attracted 40.47 times subscription and Retail Individual Investors (RIIs) category got subscribed 14.10 times.
The IPO offered fresh equity shares of up to ₹66 crore and was priced in a range of ₹33-35 a share. Proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
Udayshivakumar Infra is in the business of construction of roads. It bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments. The entity is working on twenty-five ongoing projects. Udayshivakumar is the Promoter of the company. Saffron Capital Advisors was the manager to the offer.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High