Udayshivakumar Infra IPO share allotment likely today. How to check
Udayshivakumar Infra Ltd’s initial public offering (IPO) was subscribed 5.15 times on the third day of subscription on Wednesday, Mar 23 that opened on Monday, March 20, 2023. The offer received bids for 10,29,54,972 shares against 2 crore shares on offer, as per the exchange data. The IPO offered fresh equity shares of up to ₹66 crore and was priced in a range of ₹33-35 a share.
The finalisation of the basis of share allotment of the initial share sale is expected to take place on Tuesday March 28, 2023. MAS Services Limited is the registrar of the public issue. Shares of the company are expected to be listed on the BSE and National Stock Exchange (NSE) on April 3, 2023.
Udayshivakmar Infra IPO’s shares allotment status online by logging in at BSE website — bseindia.com or at the official registrar MAS Services Limited website — masserv.com.
Udayshivakumar Infra IPO consisted of fresh issue of 20,000,000 equity shares of the face value of ₹10 aggregating to ₹66 crore. Proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
The quota for non-institutional investors was subscribed 8.47 times, while the category for Retail Individual Investors (RIIs) received 4.14 times subscription and Qualified Institutional Buyers (QIBs) 1.21 times.
As per market observers, UdayShivakumar Infra shares are commanding a premium (GMP) of ₹16 in the grey market today, higher from around ₹14 in the previous sessions.
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. The entity is working on twenty-five ongoing projects. Udayshivakumar is the Promoter of the company.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.