Likhitha Infrastructure gets oversubscribed by 1.01 times on Day 1 driven by retail investors

The price band for the IPO is fixed at the lower end of Rs117 per equity share and at the upper end of Rs120 per equity share.

Sep 30, 2020 08:09 IST India Infoline News Service

Likhitha Infrastructure IPO was oversubscribed on the first day of the offering. The IPO received cumulative bids of approximately 51.35 lakh equity shares against the issue size of 51 lakh equity shares.

The IPO was mainly driven by retail investors.

On Day 1, the qualified institutional buyers (QIB) subscribed the IPO by 0.02 times. This investor base showed lacklustre response compared to other categories.

Meanwhile, the non-institutional investors (NII) subscribed the IPO by 0.85 times. As for retail individual investors (RII), they subscribed the IPO by 2.49 times. The data is a compilation of bids received on BSE and NSE.

The price band for the IPO is fixed at the lower end of Rs117 per equity share and at the upper end of Rs120 per equity share.

Through the IPO, the company plans to raise about Rs59.7cr - Rs61.2cr.

Of the total issue size, 50% is reserved for qualified institutional buyers (QIB), meanwhile, 15% is kept aside for non-institutional investors (NII) and remaining 35% was kept for retail individual investors (RII).

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