Udayshivakumar Infra, a road construction company is planning to float its initial public offer (IPO) to raise Rs 66 crore from March 20 to March 23. The issue comprises only fresh issue of equity shares and no element of offer-for-sale (OFS).
The book building IPO has fixed its price band at Rs 33-35 per share. An investor can apply for 428 shares in a lot and its multiples thereof.
The company will use net proceeds from the IPO to fund the working capital requirements and for other general corporate purposes.
The company has reserved not more than 10% of the Issue for QIBs, not less than 30% of the offer for NIIs and 60% of the offer for retail investors.
Udayshivakumar Infra IPO important details:
Open date | March 20, 2023 |
Close date | March 23, 2023 |
Lot size | 428 shares |
IPO size (Rs crore) | Rs 66 crore |
IPO price range (Rs) | Rs 33-35 apiece |
Minimum investment | Rs 14,980 |
Basis of allotment date | March 28, 2023 |
Refunds date | March 29, 2023 |
Credit to demat account date | March 31, 2023 |
Listing date | April 03, 2023 |
As of August 31, 2022, the company had completed over 30 various projects in and around the State of Karnataka along with the erstwhile partnership firm, M/s. Udayshivakumar. The entity is working on twenty-five ongoing projects.
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