Likhitha Infrastructure’s Rs 61-crore initial public offer (IPO) closes for bidding on Thursday i.e. October 1, 2020. The share offer of the oil and gas pipeline infrastructure service provider was open for three trading days, from September 29 to October 1. The public offer consists of a fresh issue of up to 51 lakh equity shares, or 25.86 per cent of the post issue paid-up equity capital of the company. Likhitha Infrastructure shares will be listed on the benchmark indices, BSE and NSE, on October 12.
Likhitha Infrastructure has fixed the price band of the IPO at Rs 117-Rs 120 per share. Applicants are eligible to bid for a minimum one lot of 125 shares and in multiples, up to 13 lots. The company plans to raise Rs 61.20 crore at the higher end of the IPO price band and utilise the proceeds to for working capital requirements and general corporate purposes.
Unistone Capital is the lead manager of the initial public offer; Bigshare Services is the registrar.
Likhitha Infrastructure lays pipeline networks and provides 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, following in the footsteps of 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.