Likhitha Infrastructure IPO | Initial Public Offering Details

 

The closing date for the initial public offering (IPO) of the oil and gas pipeline infrastructure service provider Likita Infrastructure has been extended to October 7, 2020. Also, its original scope has been revised to Rs 116-120. The issue of Rs 61 crore was to close on Thursday, October 1, 2020.

 

As per information available on the National Stock Exchange, 'BRLM (Book Running Lead Managers), which is managing the issue of Likita Infrastructure, informed the stock market than the issue closing date has been extended to October 7, 2020. The price range has also been revised from Rs 117-120 to Rs 116-120 per share.

 

Likhitha Infrastructure IPO Details

 

 

IPO Open Date	September 29, 2020
IPO Close Date	October 7, 2020
IPO Issue Type	Book Built Issue IPO
IPO Issue Size	5,100,000 Equity Shares of 10 rupee (aggregating up to 61.20 Cr rupee)
Fresh Issue	5,100,000 Equity Shares of 10 rupee (aggregating up to 61.20 Cr rupee)
Face Value	10 rupee per equity share
IPO Price	116 to 120 rupees per equity share
Market Lot Size	125 Shares
Minimum Order Quantity	125 Shares
Listing on	BSE, NSE

 

 

Likhitha Infrastructure, which provides oil and gas pipeline infrastructure services, has said on Wednesday that it has set a price band for its IPO to open for subscription on September 29. The company has fixed a price band of Rs 117 to Rs 120 per share for its IPO. The company said in a statement that up to 51 lakh fresh equity shares will be floated in this initial public offering (IPO). The price range has also been revised from Rs 117-120 to Rs 116-120 per share.

 

The company plans to raise Rs 61.2 crore from the upper price band in this IPO. The initial share sale for the public subscription in this IPO will open from September 29 and was to close on October 1, now the date of closing of the amendment has been extended to October 7, 2020.

 

The funds raised through this IPO will be used by the company to meet its working capital requirements, to cash in on the growing demand from the oil and gas sector. Also, the company will use this amount for general corporate purposes.

 

Likhitha Infrastructure Company Financials

 

 

Sr No.	Year ended ( in millions)
	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	10,085.61	8,457.38	6,722.91
Total Revenue	16,279.02	14,054.68	8,860.56
Profit After Taxes	1,987.93	1,785.51	716.22

 

 

The Hyderabad headquartered company was established in 1949. Which has over two decades of experience in laying pipeline networks as well as building facilities connected to it. It also oversees the operation of gas distribution companies in major cities in India and provides maintenance services.

 

Promoted by Srinivasa Rao Gaddipati and Lakhitha Gaddipati, Lakhitha Infrastructure carried out Southeast Asia's first trans-national cross-country pipeline via India and Nepal. The shares of the company will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Uniston Capital is the book running lead manager for the issue.

 

Likhitha Infrastructure IPO Timetable

 

 

Offer Opens On	September 29, 2020
Offer Closes On	October 7, 2020
Finalization of Basis of Allotment	October 12, 2020
Initiation of Refunds	October 13, 2020
A Credit of Shares to Demat Account	October 14, 2020
IPO Shares Listing Date	October 15, 2020