The initial public offer of oil and gas pipeline infrastructure service provider Likhitha Infrastructure was fully subscribed on the first day of bidding on Tuesday.
The IPO received bids for 51,35,500 shares against 51,00,000 shares on offer, translating into 1.01 times subscription, according to data available with the NSE.
Qualified institutional buyers category was subscribed 2%, non-institutional investors 85% and retail individual investors category was subscribed 2.49 times, as per the exchange data.
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The public offer to raise over Rs 61 crore is for 51 lakh shares and is in the price range of Rs 117-120 per share.
The initial share-sale will close for public subscription on Oct. 1.
Proceeds of initial share-sale will be utilised by the company towards its working capital requirements so as to capitalise on the…