Oil and gas pipeline infrastructure service provider Likhitha Infrastructure's Rs 61-crore initial public offer (IPO) opened for subscription on Tuesday. The share offer will be open for three trading days, starting from September 29 to October 1. The public offer consists of a fresh issue of up to 51 lakh equity shares, amounting to 25.86 per cent of the company's post issue paid-up equity capital. Likhitha Infrastructure shares will be listed on stock exchanges BSE and NSE on October 12. The company will use the proceeds from the IPO to meet working capital requirements and for general corporate purposes.
Likhitha Infrastructure has fixed the price band of the share offering at Rs 117-Rs 120 per share. Investors can bid for a minimum one lot of 125 shares and in multiples thereof, up to a maximum 13 lots. The company plans to raise Rs 61.20 crore at the higher end of the price band.
Unistone Capital is the lead manager of the IPO, whereas Bigshare Services is the registrar.
Likhitha Infrastructure is an oil & gas pipeline infrastructure service provider. It lays pipeline networks and provides operations and maintenance services to city gas distribution companies nationwide.
Likhitha Infrastructure's promoters are Srinivasa Rao Gaddipati and Likhitha Gaddipati.
The Likhitha Infrastructure IPO will be the eleventh this year, following 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.