Likhitha Infrastructure IPO Date extends till 7 October

Likhitha Infrastructure IPO Date extends till 7 October 1

Likhitha Infrastructure IPO date has been extended till 7 October 2020 with a revised price band from Rs. 117-120 per share to 116-120 per share.

Bids for 4.29 Cr. was received on Thursday ie. 1st October for IPO of Likhitha Infrastructure as per National Stock Exchange Data. The IPO was subscribed 8.43 times.

The IPO was set to close on 1st October 2020 but due to poor participation of Qualified Institutional Buyers(QIBs), the IPO is extended till 7 October 2020.

The segment allotted to QIBs was subscribed only 45% as of 1st October 2020.

The retail portion reserved for the retail subscribers was subscribed 21.13 times.

The Non-institutional investors(NII) portion was subscribed 5.39 times.

The IPO is set to be listed on 15 October 2020. You will get the allotment status on 12 October 2020. The IPO will be listed on National Stock Exchange(NSE) & Bombay Stock Exchange(BSE) with a retail portion of 35%. The size of IPO is Approx 61.20 Crore.

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The company offered 51,00,000 equity shares for 25.86% of post issue paid up equity. Likhitha Infrastructure aims to utilize IPO proceeds to meet the working capital of Rs. 47 Crore, general corporate purpose and issue expense.

The company is a major Oil and Gas Pipeline infrastructure provider in India.

It has 3 major operations as follows:

  1. Cross country pipelines and associated facilities
  2. City Gas distributions and CNG Stations
  3. Maintenance and Operations of CNG/PNG Services