The Rs 61 crore initial public offering (IPO) of Likhitha Infrastructure will open for subscription on Tuesday, i.e. September 29, 2020. The share offering of the oil & gas pipeline infrastructure service provider will be open for three trading days, from September 29 to October 1, 2020. The shares of Likhitha Infrastructure are likely to be listed on the BSE and NSE, on October 12.
The company has fixed the price band of the share offering at Rs 117-Rs 120 per share. It plans to raise Rs 61.20 crore at the higher end of the price band.
The initial public offering consists of a fresh issue of up to 51 lakh equity shares, representing 25.86 per cent of the company's post issue paid-up equity capital. The IPO proceeds will be utilised towards working capital requirements and for general corporate purposes.
Investors can bid for a minimum one lot of 125 shares and in multiples thereof, up to a maximum of 13 lots.
Unistone Capital is the lead manager of the IPO and Bigshare Services is the registrar.
Likhitha Infrastructure is an oil & gas pipeline infrastructure service provider, laying pipeline networks and providing operations and maintenance services to city gas distribution companies across the country. Srinivasa Rao Gaddipati and Likhitha Gaddipati are the promoters of Likhitha Infrastructure.
The Likhitha Infrastructure IPO will be the eleventh this year, 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.