According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Udayshivakumar Infra IPO consists of fresh issue of 20,000,000 equity shares of the face value of Rs 10 aggregating to Rs 66 crore.
The shares of the company listed at 17.14% premium on NSE at Rs 164 and 16.43% premium on BSE at Rs 163 per share.
HDFC Life (+2.90%) is the top Nifty 50 gainer with 3% gain.
Nifty Bank, Financial Services, Oil & Gas, and Media indices are each trading with about 1% gains.
The investment strategy of the Scheme will be to invest in a basket of securities forming part of Nifty 100 Low Volatility 30 Index in similar weight proportion.
Even though the Japanese markets were shut for a holiday, Nikkei futures trading in Chicago indicated a bullish sentiment.
The IPO consists of fresh issue of 20,000,000 equity shares of the face value of Rs 10 each aggregating to Rs 66 crore.