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The IPO of Udayashivkumar Infra, a company related to road construction business, has received tremendous response from the people. The company’s IPO has been subscribed 32.49 times in total. The retail quota in Udayashivkumar Infra’s IPO has been subscribed 14.95 times. Whereas, the quota of qualified institutions was subscribed 42.92 times and that of non-institutional buyers 64.08 times. Udayashivkumar Infra’s IPO opened for subscription on March 20 and will remain open till March 23, 2023. The company’s IPO is getting strong response in the gray market as well.
Company’s shares can be listed at Rs 45
The price band of Udayashivkumar Infra IPO is Rs 33-35. The shares of the company are also getting good response in the gray market. Market experts say that the shares of Udayashivkumar Infra are trading at a premium of Rs 10 in the gray market. If the shares of the company are allotted at the upper price band of Rs.35 and the gray market premium of Rs.10 remains, then the shares of the company can reach Rs.45 on the very first day in the market. That is, there can be a listing gain of about 30% in the shares of the company.
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Retail investors could apply for 13 lots
Retail investors could apply for a minimum of one lot and a maximum of 13 lots in the IPO of Udayashivkumar Infra. There are 428 shares in one lot of the company’s IPO. That is, there are a total of 5564 shares in 13 lots. For 13 lots, the investors would have to invest a total of Rs 194740. Wherein, for 1 lot the investor would have needed Rs 14980. The allotment of shares in Udayashivkumar Infra’s IPO may be finalized on March 28, 2023. At the same time, the shares of the company can be listed on 3 April 2023. The company is raising Rs 66 crore from the IPO.
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Disclaimer: Information about the performance of the stock is given here only, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.