Key Points of Udayshivakumar Infra IPO Details, Share Allotment, GMP:
- Udayshivakumar Infra Ltd’s IPO has received an overwhelming response from investors with the issue being subscribed 5.15 times on the third day of subscription on March 22, 2023.
- The IPO opened on March 20, 2023, with a price band of ₹33 to ₹35 per share and received bids for 10,29,54,972 shares against 2 crore shares on offer.
- Non-institutional investors subscribed to the quota 8.47 times, while Retail Individual Investors (RIIs) received 4.14 times subscription and Qualified Institutional Buyers (QIBs) 1.21 times.
- According to market observers, Udayshivakumar Infra shares are commanding a premium (GMP) of ₹14 in the grey market today, higher from ₹10 in the previous sessions.
- The finalisation of the basis of share allotment of the initial share sale is expected to take place on Tuesday, March 28, 2023, with MAS Services Limited as the registrar of the public issue.
- Udayshivakumar Infra is engaged in the construction of roads and bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments.
- The proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes, and the company’s stock is expected to debut on April 3, 2023.
Details of Udayshivakumar Infra IPO Details, Share Allotment, GMP:
Udayshivakumar Infra’s IPO Subscribed 5.15 Times in Strong Response:
Udayshivakumar Infra Ltd’s initial public offering (IPO) has received an overwhelming response from investors, with the issue being subscribed 5.15 times on the third day of subscription on March 22, 2023. The IPO opened on March 20, 2023, with a price band of ₹33 to ₹35 per share. According to exchange data, the offer received bids for 10,29,54,972 shares against 2 crore shares on offer.
Strong Interest from Investors Across All Categories:
Non-institutional investors subscribed to the quota 8.47 times, while Retail Individual Investors (RIIs) received 4.14 times subscription and Qualified Institutional Buyers (QIBs) 1.21 times. This indicates a strong interest from investors across all categories.
Udayshivakumar Infra Shares Command a Premium in Grey Market:
According to market observers, Udayshivakumar Infra shares are commanding a premium (GMP) of ₹14 in the grey market today, higher from ₹10 in the previous sessions. This suggests a positive sentiment among investors towards the company’s prospects.
Basis of Share Allotment to be Finalized Next Week:
The finalisation of the basis of share allotment of the initial share sale is expected to take place on Tuesday, March 28, 2023. MAS Services Limited is the registrar of the public issue, and shares of the company are expected to be listed on the BSE and National Stock Exchange (NSE) on April 3, 2023.
IPO Proceeds to Fund Incremental Working Capital Requirements and Corporate Purposes:
The IPO of Udayshivakumar Infra consisted of a fresh issue of 20,000,000 equity shares of the face value of ₹10 aggregating to ₹66 crore. The proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
Udayshivakumar Infra Engaged in Construction of Roads and Ongoing Projects:
Udayshivakumar Infra is engaged in the construction of roads and bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments. The company is working on twenty-five ongoing projects, and Udayshivakumar is the promoter of the company.
Overall, the strong response to Udayshivakumar Infra’s IPO is a testament to the company’s promising business model and growth prospects. Investors can look forward to the company’s stock debut on April 3, 2023, with great anticipation.
About Udayshivakumar Infra:
On December 23, 2019, Udayshivakumar Infra Private Limited was established as a privately held company. It has been categorized as a non-governmental organization and is registered with the Registrar of Companies in Bangalore. The company’s authorized share capital is Rs. 365,000,000, and its paid-up capital is also Rs. 365,000,000. Its primary activity is building installation.
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