Udayshivakumar Infra IPO Grey Market Premium (GMP) Was Up By 35% From Price Band

Udayshivakumar Infra IPO is about to be floated in the market on April 3, 2023. It was open for subscription from March 20 to March 23, 2023, with a price band being Rs 33-35 per share. However, ahead of its listing day, it was reported that the share price has been received well by the investors. as it was subscribed 30.3 times, according to market observers as per Livemint news report.

According to market observers, shares of Udayshivakumar Infra Ltd were available at a premium of Rs12 in grey (unlisted) market today, which was up by Rs 2 from previous day. If we consider the upper end of the price band, the company's shares are expected to get listed at a premium. Udayshivakumar Infra IPO listing price to be around Rs 47 (Rs 35 + Rs12), which is around 35 per cent higher from its price band of Rs 33 to Rs 35 per equity share.

It is was reported that the secondary market sentiment plays a significant role in share listing premium as fresh investors or HNI investors, usually invest after listing prolongs their investment plans during weak market sentiments. However, it was observed that over one week, the Udayshivakumar Infra IPO grey market premium (GMP) seemed to have been showing positive signals for listing of IPO, despite the weak sentiment.

Udayshivakumar Infra is engaged in the business of construction of various road projects, including national and state highways, district roads, and smart roads under PM's smart city mission projects etc. It was incorporated in the year 1995. Starting with a modest turnover of Rs 0.10 Cr in 1995-1996, the company has achieved a turnover of Rs 224.93Cr by 2020-2021