Likhitha Infrastructure IPO extended until October 7 | Price band cuts to Rs 116-120 per share

Oil and gas pipeline infrastructure service provider Likhitha Infrastructure's initial public offer has been extended till October 7 and the price band has also been revised lower to Rs 116-120 per share, according to an update on the NSE. The Rs 61 crore issue was earlier slated to close on October 1.

The offer received bids for 4,29,86,000 shares against 51,00,000 shares on offer, translating into 8.43 times subscription, as per data available with the NSE on Thursday. Qualified institutional buyers (QIBs) portion was subscribed 45 percent, non-institutional investors 5.39 times and retail individual investors 21.13 times.

"BRLM (Book Running Lead Managers) to the Likhitha Infrastructure Limited issue has informed the exchange that the issue closure date has been extended up to October 07, 2020. The price band has been revised from Rs 117-120 to Rs 116-120 per share" as per an update on the NSE.

Likhitha Infrastructure IPO extended until October 7

Proceeds of the initial share-sale will be utilized by the company towards its working capital requirements so as to capitalize on the growing demand from the oil and gas sector, and for general corporate purposes.

The Hyderabad-headquartered firm has over two decades of experience in laying pipeline networks along with the construction of associated facilities, as well as providing operations and maintenance services to leading city gas distribution companies in India. Unistone Capital is the manager of the offer.

Shares of the company will be listed on BSE and NSE.

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Likhitha Infrastructure IPO Dates Extended & Price Band:

 IPO Open: 29 September 2020
 IPO Close:01 Oct 2020 07 Oct 2020 (Extended)
 IPO Size: Approx ₹61.20 Crore (Approx)
 Face Value: ₹10 Per Equity Share
 Price Band: ₹116-₹120 Per Share
 Listing on: BSE & NSE
 Retail Portion: 35%
 Equity: 5,100,000 Shares

Likhitha Infrastructure IPO Market Lot:

 Lot Size: Minimum 125 Shares & Maximum 1625 Shares
 Minimum Amount: ₹15,000
 Maximum Amount: ₹195,000

Likhitha IPO Allotment & Listing:

 Basis of Allotment: 12 October 2020
 Refunds: 13 October 2020
 Credit to Demat Account: 14 October 2020
 Listing Date: 15 October 2020