Share of Likhitha Infrastructure listed at a premium of 8.41% against issue price of Rs 120 per share on BSE today. Later, the stock surged 13.88% to Rs 136.60 on BSE.
Total 2.48 lakh shares changed hands amounting to turnover of Rs 3.23 crore. Market cap of the firm rose to Rs 269.44 crore on BSE.
The share was stuck in upper circuit of 5% after rising Rs 6.50 over opening price of Rs 130.10. The stock rose up to 13.83% above issue price and touched the upper circuit at Rs 136.60 on BSE.
The Rs 61-crore IPO was open for subscription between September 29, 2020 and October 7, 2020. The IPO was scheduled to close on October 1, but was extended till October 7 due to lackluster response to the issue.
The issue was subscribed 9.51 times. Shares of Likhitha Infrastructure have been listed on BSE and NSE.
The company engaged in providing oil & gas pipeline infrastructure service fixed the price band of the share sale at Rs 117-Rs 120 per share, which was later revised downwards to Rs 116-Rs 120 per share.Stocks in news: Infosys, Tata Elxsi, PNB, United Spirits, RIL, Future Enterprises
Unistone Capital was the lead manager and Bigshare Services was the registrar of the IPO.
Likhitha is an oil and gas infrastructure service provider in India, focused on laying pipeline networks along with the construction of associated facilities and providing operations and maintenance (O&M) services for city gas distribution projects in India.