Likhitha Infrastructure IPO Subscription Will Open On September 29

By Angel Broking | Published on 23rd September 2020 | 2745

Likhitha Infrastructure IPO Subscription Will Open On September 29

This time the IPO bell rang for Likhitha Infrastructure. The company said it is planning to debut in the Indian stock bourses on September 29. If the company hits the market in September, it will be the eighth company to offer IPO amid lockdown.

The IPO market has turned around really well since the lockdown hit the country’s economy. The Indian financial market suffered a downslide, along with other countries in the world when COVID-19 became a global pandemic. As the market plummeted, several companies postpone their plans to list in the exchange, citing market conditions. However, since July, the resurgence of the IPO market has been nearly phenomenal. September, especially, has seen a significant recovery in the primary market segment after a pause of over four months.

Now coming to the latest IPO announcements, Likhitha Infrastructure IPO will hit the market for Rs 61.2 crores in the final week of September. The offer will contain 51 lakh fresh equity shares of the company. Post IPO, promoters’ stake in the company will reduce from the current 99.96 percent to 74.11 percent.

A Bit About The Company’s Background

Likhitha Infrastructure has made a name in providing gas and oil pipeline infrastructure. The company is engaged in setting up the city and cross-country gas pipeline projects and maintenance services in more than sixteen Indian states and neighbouring Nepal.

Incorporated in 1998, Likitha Infrastructure has more than twenty years of experience with a strong presence in the domestic market and clients from private and public sectors like ONGC.

The company was also involved in laying of the first trans-national cross-country gas pipeline in south-east Asia between India and Nepal.

Important Features Of Likhitha Infrastructure IPO

  • Likhitha Infrastructure IPO will make a maiden offer for Rs 61.2 crores in selling 51 lakh equity shares
  • Important Likhitha Infrastructure IPO dates to note are the opening date, September 29, and the closing date, October 1
  • Finalisation of base allotment with happen on October 7
  • Likhitha Infrastructure IPO price targets the price band of Rs 117-120, and shares will carry a face value of Rs 10
  • The IPO will help the company meet corporate working capital requirements and IPO issue expenditures
  • The minimum lot size of the offer is 125 shares
  • Retail investor participation is anticipated to be 35 percent
  • Likhitha IPO will list on both BSE and NSE
  • The company appointed Bigsare Service Pvt. Ltd. as registrar

Conclusion

2020 has been a terrible year ever for the Indian companies and the market. The IPO market hit the floor with the lowest IPO registrations in the last four years. However, after a drought, investors’ reserve seems to be easing, and more companies will join the action to tap into the buoyant market. The recent IPO sales have seen full participation from investors, which prompted experts to believe that renewed demand will encourage more firms to test investor interest over the next few months.

Indian investors are treated with a mixed bag of IPO offers – sizes ranging from large, medium, and SME segments. In terms of size, Likitha IPO is a mid-size IPO. If you are already an Angel Broking client, you can apply for IPOs directly from your console.  When you log in to your account, you will find a list of IPOs available for subscription. You can select the IPO offers and place your bid by selecting UPI as the preferred mode of payment.