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Home News Udayshivakumar Infra IPO's share allotment next week. What GMP signals

Udayshivakumar Infra IPO’s share allotment next week. What GMP signals

On the third day of the IPO of Udayashivkumar Infra Limited, which opened on March 20, 2023, there was a 5.15-times subscription. The value band of the issue was since 33 35 for each offer. In comparison to the 2 crore shares that were offered, bids were received for 10,29,54,972 shares, according to exchange data.

Non-institutional investors had their quota subscribed 8.47 times, retail individual investors (RIIs) had their quota subscribed 4.14 times, and qualified institutional buyers (QIBs) had their quota subscribed 1.21 times.

Udayashivkumar Infra shares are trading at a premium (GMP) of 14 today, up from 10 in previous seasons, according to market observers.

Conclusion of the premise of offer designation of the Underlying Offer Deal is normal one week from now on Tuesday, Walk 28, 2023. The Public Issue is registered with MAS Services Limited. On April 3, 2023, the company’s shares are expected to be listed on the BSE and the National Stock Exchange (NSE).

Newly issued 20,000,000 equity shares with a face value of 10 totaled 66 crores in the Udayashivkumar Infra IPO. The issue’s proceeds will be used for general corporate goals and incremental working capital requirements.

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.

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