Another addition to the already bustling new IPO market is Likhitha Infrastructure Ltd. The company is all set to issue its shares up for public subscription for the first time and has also filed the final Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI). If you’re looking for the details about the upcoming IPO from Likhitha Infrastructure Ltd, here’s everything that you should know.
About the company
Based in Hyderabad, Likhitha Infrastructure Ltd was first incorporated in 1998. The company is in the gas and oil pipeline infrastructure business, enjoying a net profit of around Rs. 198.793 crores as of March 31, 2020. In addition to laying pipelines for transporting oil and gas, the company provides repair, operations, and maintenance services as well.
Likhitha Infrastructure Ltd has three primary business lines, namely, cross country pipelines and associated facilities, city gas distribution including CNG stations, and operation and maintenance of PNG/PNG services. Over the 2 decades of its existence, the company has managed to expand its geographical presence across more than 16 different states and 2 union territories. The client base of the company includes major entities such as GAIL, ONGC, Indian Oil, HCG, Torrent Gas, Indraprastha Gas, and HPCL, among others.
Details of the Likhitha Infrastructure IPO
Now let’s take a look at some of the important details of the Likhitha Infrastructure Ltd IPO including the Likhitha Infrastructure IPO date and the Likhitha Infrastructure IPO price band.
Likhitha Infrastructure IPO date
The Likhitha Infrastructure Ltd IPO issue is slated to open up to the public on September 29, 2020. Similar to all the other latest IPOs, this upcoming IPO issue from Likhitha Infrastructure Ltd would also be open for 9 days, with October 07, 2020 being the offer closing date.
Likhitha Infrastructure IPO issue size
The entire issue of around 51,00,000 equity shares of the Likhitha Infrastructure Ltd IPO is a fresh issue of shares by the company. There’s no offloading of shares by the promoters of the company through any Offer for Sale (OFS). The sale of 51,00,000 equity shares by the company is likely to net around Rs. 61.20 crores.
Likhitha Infrastructure IPO share price band
The price band of the Likhitha Infrastructure Ltd IPO has been set at around Rs. 117 to Rs. 120 per share. Since the face value of the shares of the company is just Rs. 10, the offer price of the new IPO carries a share premium of around Rs. 107 to Rs. 110.
Likhitha Infrastructure IPO listing
The latest IPO from Likhitha Infrastructure Ltd is to be listed on both the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). In fact, the company has also received the necessary approvals from the concerned stock exchanges in this regard.
Likhitha Infrastructure IPO objectives
The net proceeds from the fresh issue of shares by the company through this IPO issue is being proposed to be used for the following three objectives.
- For meeting the working capital requirements of the company.
- For general corporate purposes.
- For meeting expenses incurred in connection with the IPO issue.
To invest in the upcoming Likhita Infrastructure Pvt. Ltd. IPO, you need to open demat account.
If you already have an existing account, you can login to trade and invest in the IPO.
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