The Udayashivkumar Infra IPO share allotment basis has been finalized, and the company’s share listing, which is expected next week, is now the focus of all attention. On Monday, April 3, 2023, the company’s shares are expected to be listed on the BSE and National Stock Exchange (NSE).
Udayashivkumar Infra shares are currently trading at premium (GMP) 9 in the gray market, down from around 14 the previous session, according to market observers.
On the third day of subscription, Wednesday, March 23, the IPO of Udayashivkumar Infra Limited, which opens on Monday, March 20, 2023, was subscribed 5.15 times. based on exchange data, offers. The Initial public offering offered new value shares up to 66 crores and was in the value scope of 33-35 an offer.
Udayashivkumar is involved in the building of infrastructural roads. It submits bids for projects in the industrial sector, government agencies, roads, bridges, and canals in Karnataka. Twenty-five ongoing projects are being worked on by the unit. The company’s promoter is Udayashivkumar.
Newly issued 20,000,000 equity shares with a face value of 10 totaled 66 crores in the Udayashivkumar Infra IPO. The returns of the issue will be utilized for gradual working capital prerequisites and for general corporate purposes.
The company’s revenue and profit have increased inconsistently over the past three fiscal years. The company’s EBITDA margin of 13.41 percent and PAT margin of 6.54 percent as of FY22 appear low in comparison to its rivals. According to Abhay Doshi, co-founder of Unlisted Arena, at the upper end of the issue price, the asking P/E is approximately 10x based on FY12 earnings.