Udayshivakumar Infra IPO day 3, check out subscription status here

Udayshivakumar Infra IPO: The applications for subscribing to the initial public offer (IPO) of Udayshivakumar Infra Ltd opened on Monday, 20 March 2023. However, it has been fully subscribed on the second day, Tuesday, 21 March 2023.

As of 10.27 AM on the third day, 22 March 2023, the issue has been oversubscribed 2.65 times with the retail investors' category booked 2.23x, non-institutional investors (NIIs) booked 3.96x, and qualified institutional buyers (QIBs) 1.18x, according to BSE data.

The IPO will remain open till Thursday, 23 March. It opened for anchor investors last week on Friday, March 17.

Shares of the company are expected to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on April 3, 2023. The shares will be allotted on March 28 and will be credited to investors' demat accounts on March 31. The share price for the issue has been fixed at Rs 33 to Rs 35 per share.

Retail investors will receive about 60% of the initial share offering, NIIs would receive 30%, and QIBs will receive 10% of the issue.

Udayshivakumar Infra plans to raise Rs 66 crore through the IPO which includes a fresh issue of 20,000,000 equity shares at a face value of Rs 10. The company will be using the proceeds for funding working capital and general corporate purposes.

Saffron Capital Advisors Private Limited is the lead manager for this IPO to Udayshivakumar Infra.

Udayshivakumar Infra was started in 1995 and Udayshivakumar is the promoter of the company. It is engaged in the business of the construction of roads. Udayshivakumar Infra bids for roads, bridges, canals, and industrial area construction projects in Karnataka, including government departments.

The upcoming IPO of this month is Maiden Forgings Limited which will start on 23 March 2023 and end on 27 March 2023.

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