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Likhitha Infrastructure IPO opens today; 7 key things to know

The initial public offering (IPO) of Likhitha Infrastructure opens Tuesday. The Rs 61.2 crore IPO of oil and gas pipeline infrastructure service provider which closes on October 1 has a price band of Rs 117-120 per share

twitter-logoBusinessToday.In | September 29, 2020 | Updated 12:35 IST
Likhitha Infrastructure IPO opens today; 7 key things to know
Likhitha Infrastructure IPO

The initial public offering (IPO) of Likhitha Infrastructure opens Tuesday. The Rs 61.2 crore IPO of oil and gas pipeline infrastructure service provider which closes on October 1 has a price band of Rs 117-120 per share. The IPO consists of fresh issue of up to 51 lakh equity shares, representing 25.86 per cent of the post-issue shareholding.

Here are key things to know about Likhitha Infrastructure IPO:

The company will raise Rs 61.2 crore through the public issue at the upper end of the price band

The investors can subscribe to the issue by bidding for a lot of 125 shares or in multiples thereof. It implies that one has to pay at least Rs 14,625 to make a bid for the issue

The IPO has a fresh issue of up to 51,00,000 equity shares representing 25.86 per cent of the post-issue shareholding

Likhitha Infrastructure expects to raise up to Rs 61.20 crore. Proceeds of initial share-sale will be utilised by the company towards its working capital requirements so as to capitalise on the growing demand from the oil and gas sector, and for general corporate purposes.

Shares of the company will be listed on BSE and NSE. Unistone Capital is the book running lead manager to the issue.

The Hyderabad-headquartered firm has over two decades of experience in laying pipeline networks along with construction of associated facilities, as well as providing operations and maintenance services to leading city gas distribution companies in India.

Likhitha Infrastructure, which is promoted by Srinivasa Rao Gaddipati and Likhitha Gaddipati, had executed the first trans-national cross-country pipeline of SouthEast Asia, connecting India to Nepal.

Also read: Chemcon Speciality Chemicals IPO: Here's how to check allotment status

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