Udayshivkumar Infra IPO sails through amid volatile market; check live subscription details here

22 Mar 2023 , 11:24 AM

The initial public offer of Udayshivkumar Infra of Rs 66 crore has made it through amid volatile market conditions on day 2. The issue was subscribed 2.2 times by the end of day 2. Click here to subscribe the IPO.

On day 3 of the offer, the issue was subscribed 3.00 times by 11.12 AM. The IPO receives heavy bidding from non-institutional investors (NIIs). The portion reserved for NIIs was oversubscribed at 4.63 times, while the retail investors’ category got 2.49 times bids. Meanwhile, the qualified institutional buyers’ (QIBs) portion was subscribed 1.18 times.

Udayshivkumar 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 per share
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

 

Udayshivakumar Infra is engaged in the business of construction of various road projects including national and state highways, district roads and smart roads under PM’s smart city mission projects etc.

The company has 46 work orders in hand having aggregate order book value of Rs 1,291 crore, as of the December quarter. Out of which, 30 are ongoing and 16 are new work orders which are yet to start.