Likhitha Infrastructure lists at 8.4% premium over issue price

Likhitha Infrastructure on Thursday made a decent stock market debut as the scrip got listed at Rs 130.10 on BSE, a 8.41 per cent premium over its issue price of Rs 120.

On NSE, the scrip got listed at Rs 130, up 8.33 per cent.

At the issue price, the scrip was commanding a P/E valuation of 11.9 times.

The company, whose issue was subscribed on Day 1 itself, had extended its IPO bidding period due to poor response from qualified institutional buyers (QIBs).

“The extension was sought mainly to accommodate QIB bidders who could not place their bids due to technical issues,” Unistone Capital, the book running lead manager to the issue, had said in an email.

The issue, which ran from September 29 to October 7, eventually got 9.51 times subscription, with the QIB quota receiving 21.99 times bids. Retail quota was subscribed 23.71 times while NII 1.54 times.

The IPO consisted of a fresh issue of up to 51,00,000 equity shares representing 25.86 per cent of the post-issue shareholding.