On Monday, March 20, 2023, public subscription for Udayashivkumar Infra Limited’s Initial Public Offering (IPO) will begin. The three-day share sale will complete on Wednesday, March 23, 2023. Beginning on March 17, 2023, bids are accepted for anchor investors. The price range for the offering has been set at 33 to 35 cents per share.
The new offering of 20,000,000 equity shares with a face value of 10 is part of the Udayashivkumar Infra IPO. The issue’s proceeds will be put to use for both new working capital needs and general business needs. Lots of the IPO can be applied for by bidders, and one lot contains 428 of the company’s shares.
Market watchers claim that Udayashivkumar Infra shares are currently trading at a premium of (GMP) 10 on the black market. On April 3, 2023, the company’s shares are anticipated to list on the BSE and the National Stock Exchange (NSE).
Infraroad construction is the line of work of Udayashivkumar. It submits bids for building projects involving government agencies as well as roads, bridges, canals, and the industrial sector in Karnataka. The company’s promoter is Udayashivkumar. As of August 31, 2022, the company and its formerly partnered company, M/s. Udayashivkumar, had completed more than 30 various projects in and around the state of Karnataka. Twenty-five ongoing projects are being worked on by the unit.
The principal book-running manager for the offer is Kesar Capital Advisors, while MAS Services is the registrar for the initial share offering.
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