Udayshivakumar Infra IPO: The proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
Udayshivakumar Infra IPO was subscribed 5.15 times on the third day of subscription on Wednesday, receiving bids for 10,29,54,972 shares against two crore shares on offer
Udayshivakumar Infra IPO was subscribed 5.15 times on the third day of subscription on Wednesday, receiving bids for 10,29,54,972 shares against two crore shares on offer. The non-institutional investor quota was subscribed 8.47 times, while the category for retail individual investors (RIIs) got 4.14 times subscription and qualified institutional buyers (QIBs) 1.21 times.
Udayshivakumar Infra IPO GMP Today
The company’s unlisted shares are trading at a premium of Rs 10. So, its grey market premium (GMP) is Rs 10. It means that the company’s unlisted shares are now available at Rs 45, which is Rs 10 above the upper IPO share price band of Rs 35 apiece.
However, market experts also suggest to investors that GMP is unofficial data, which is non-regulated. So, those who follow GMP are advised to go through the financials of the company as well because the balance sheet of the company will give a better picture of the company’s fundamentals.
Udayshivakumar Infra IPO: Allotment and Listing Dates
The finalisation of the basis of IPO’s share allotment is expected to take place on March 28, 2023. MAS Services Limited is the registrar of the public issue. The company’s shares are expected to be listed on the BSE and National Stock Exchange (NSE) on April 3, 2023.
About Udayshivakumar Infra IPO
The IPO has fresh equity shares of up to Rs 66 crore and is in a price range of Rs 33-35 a share. The proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
Udayshivakumar Infra is in the business of construction of roads. It bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments. Saffron Capital Advisors is the manager to the offer.
Shares of the company will be listed on the BSE and National Stock Exchange (NSE).
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