Udayshivakumar Infra Share Listing Price Is Below The Initial Public Offering Price

Udayshivkumar Infra stock price got listed at Rs 30 per share, it was at a discount from the listing price of Rs 35 per share on the national stock exchange as per Economic times report. It was open for subscription from March 20 to March 23, 2023, with a price band of Rs 33-35 per share.

Just last week it was reported, ahead of its listing date, that the share price was received well by the investors, as it was subscribed 30.3 times, Udayshivkumar Infra IPO received bids for over 61.26 crore shares against 2 crore shares on offer, according to the data available with the NSE, as per the news report.

It was reported that the portion for non-institutional investors was subscribed to 60.42 times, while the qualified institutional buyers (QIBs) quota attracted 40.47 times subscription and the retail investors' category got subscribed 14.10 times.

At the grey market (unlisted market) it was available at a premium of Rs 7 to Rs 12 per share higher, which was around Rs 47 per share last week before the listing date.

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.