On March 20, 2023, public subscription for Udayshivakumar Infra Ltd’s initial public offering (IPO) is expected to begin. The three-day share sale is scheduled to end on March 23, 2023. On Friday, March 17, 2023, the auction for anchor investors began. Price range for the issue is set at 33 to 35 rupees per share.
The 20,000,000 equity shares with a face value of 10 that make up Udayshivakumar Infra’s initial public offering (IPO) total 66 crore. The issue’s proceeds will be put to use for both general business objectives and new needs for working capital. One lot of the IPO contains 428 shares of the company, and bidders may submit applications in multiple lots.
As per market observers, UdayShivakumar Infra shares are commanding a premium (GMP) of ₹10 in the grey market today. Shares of the company are expected to be listed on the BSE and National Stock Exchange (NSE) on April 3, 2023.
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. Udayshivakumar is the Promoter of the company. As of August 31, 2022, the Company had executed over 30 various projects in and around the State of Karnataka along with the erstwhile partnership firm, M/s. Udayshivakumar. The entity is working on twenty-five ongoing projects.
Saffron Capital Advisors is the lead book-running manager of the offer whereas MAS Services is the registrar of the initial share sale.