Udayshivakumar Infra IPO to open on March 20; Price band fixed at Rs 33-35

16 Mar 2023 , 10:03 AM

Udayshivakumar Infra, a road construction company is planning to float its initial public offer (IPO) to raise Rs 66 crore from March 20 to March 23. The issue comprises only fresh issue of equity shares and no element of offer-for-sale (OFS).

The book building IPO has fixed its price band at Rs 33-35 per share. An investor can apply for 428 shares in a lot and its multiples thereof. 

The company will use net proceeds from the IPO to fund the working capital requirements and for other general corporate purposes.

The company has reserved not more than 10% of the Issue for QIBs, not less than 30% of the offer for NIIs and 60% of the offer for retail investors. 

Udayshivakumar Infra IPO important details:

Open date	March 20, 2023
Close date	March 23, 2023
Lot size	428 shares
IPO size (Rs crore)	Rs 66 crore
IPO price range (Rs)	Rs 33-35 apiece
Minimum investment	Rs 14,980
Basis of allotment date	March 28, 2023
Refunds date	March 29, 2023
Credit to demat account date	March 31, 2023
Listing date	April 03, 2023

As of August 31, 2022, the company had completed 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.