Udayshivakumar Infra IPO
Udayshivakumar Infra IPO — date, price band, lot size & details 2023
Udayshivakumar Infra listed on 3 Apr 2023 at ₹30, 14.3% below the ₹35 issue price.
Udayshivakumar Infra builds roads, including state and national highways, district roads and smart city roads, mainly in Karnataka. Its total income was Rs 186.39 crore in FY2022.
Stock price
Udayshivakumar Infra is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 20 Mar 2023
- Close 23 Mar 2023
- Allotment 28 Mar 2023
- Refund/credit 29 Mar 2023
- Listing 03 Apr 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 20 to 23 Mar, 2023 |
|---|---|
| Price Band | ₹33 – ₹35 |
| Face Value | ₹10 |
| Lot Size | 428 Shares |
| Issue Size | ₹66 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Mas Services Limited |
| Min Investment | ₹ 14,980 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 428 shares at the ₹35 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 428 | ₹14,980 |
| Retail (max) | 13 | 5,564 | ₹1,94,740 |
| S-HNI (min) | 14 | 5,992 | ₹2,09,720 |
| S-HNI (max) | 66 | 28,248 | ₹9,88,680 |
| B-HNI (min) | 67 | 28,676 | ₹10,03,660 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax was Rs 10.02 crore in the six months to 30 September 2022, close to Rs 12.15 crore in all of FY2022.
- 02The pre-issue P/E was 10.51 at the upper band of Rs 35, based on EPS of Rs 3.33.
- 03The whole Rs 66 crore issue was fresh capital, mostly for working capital.
- 04Net worth grew from Rs 46.87 crore on 31 March 2020 to Rs 78.34 crore on 30 September 2022.
- 05It had executed over 30 projects and had 25 ongoing projects.
Risks · 5
- 01Total income fell from Rs 211.11 crore in FY2021 to Rs 186.39 crore in FY2022.
- 02Work is concentrated in Karnataka and on government contracts, so state budgets and payment delays matter. The source puts the PAT margin at 6.54%.
- 03Total borrowing rose from Rs 26.48 crore on 31 March 2022 to Rs 39.46 crore on 30 September 2022.
- 04Road contracts are won by bidding, so order inflow can be uneven, and total income has moved between Rs 186.39 crore and Rs 211.11 crore a year.
- 05Promoter holding fell from 100% before the issue to about 65.93% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Udayshivakumar Infra offer document.
| Metric | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 178.90 | 162.61 | 146.82 | 158.26 |
| Total Income | 107.14 | 186.39 | 211.11 | 194.41 |
| Profit After Tax | 10.02 | 12.15 | 9.32 | 10.49 |
| NET Worth | 78.34 | 68.32 | 56.18 | 46.87 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 39.46 | 26.48 | 30.60 | 33.95 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Udayshivakumar Infra RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Udayshivakumar Infra IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.33 | ₹3.62 |
| P/E Ratio (x) | 10.51 | 9.67 |
| Market Cap at Offer Price (₹ Cr) | ₹105.32 | ₹96.88 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹35 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹61.16 Cr of the issue is earmarked to named objects.
About the company
It builds roads, including state highways, district roads, smart roads under municipal corporations and the Smart City Mission, national highways, BBMP roads and local roads in taluka towns. It also bids for bridges, irrigation and canals, and industrial area work in Karnataka.
It works mainly in Karnataka for clients such as MORTH, state highway bodies and Karnataka government departments. As of 31 August 2022 it had executed over 30 projects, along with the earlier partnership firm, and had twenty-five ongoing projects.
The IPO was Rs 66 crore and was entirely fresh issue. Rs 45.00 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Udayshivakumar Infra IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Saffron Capital Advisors Pvt. Ltd
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +38.6%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Udayshivakumar Infra?
The current Grey Market Premium is ₹12, or 34% over the issue price.
What is the Udayshivakumar Infra IPO price band?
₹33 to ₹35, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 March 2023, with listing on 3 April 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Mas Services Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
