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Shares of Udayshivakumar Infra will be listed on the bourses today. The company has fixed the IPO price as ₹35, at the upper end of the price band of ₹33-35. The ₹66-crore IPO, which saw a robust response from all category investors, was subscribed 30.63 times.
While the portion reserved for non-institution investors (HNIs) was subscribed 60.42 times, the qualified institutional buyers quota was 40.47 times, and the retail portion by 14.10 times.
The entire issue is a fresh issue and the company plans to use the funds for incremental working capital requirements and general corporate purposes. The Karnataka-based company primarily operates on structuring roads, bridges, and irrigation projects.
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