Udayshivakumar Infra's IPO saw strong interest from institutional investors, resulting in an oversubscription of 30.63 times on the last day of the offering. The IPO received bids for more than 61.26 crore shares, significantly surpassing the 2 crore shares on offer. The non-institutional investor's portion was oversubscribed by an impressive 60.42 times, while the QIB quota attracted 40.47 times subscription, and the RII category received 14.10 times subscription.
The IPO offered fresh equity shares worth up to Rs 66 crore, with a price range of Rs 33-35 per share. The proceeds from the IPO will be utilized for funding incremental working capital requirements and general corporate purposes. Udayshivakumar Infra primarily focuses on road construction projects in Karnataka, including government projects, and was managed by Saffron Capital Advisors.
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