On Monday, the shares of Udayshivakumar Infra were listed at a 14.29% discount to the issue price. Compared to the IPO price of Rs 35, the stock's NSE debut price was Rs 30.
Investors responded well to the first share issue, and the transaction was massively oversubscribed by 30 times. According to information available with the NSE, the company's IPO attracted bids for nearly 61.26 crore shares versus 2 crore shares on sale.
The non-institutional investors' quota received a staggering 60.42 times as many subscriptions as the qualified institutional buyers (QIBs) quota, which received 40.47 times as many subscriptions, and the retail investors' quota, which received 14.10 times as many subscriptions.
Udayshivakumar Infra shares sought a premium of Rs 7-8 in the unlisted market prior to listing.
Udayshivakumar Infra is in the business of building a variety of roads, including district roads, smart roads under the PM's smart city mission projects, national and state highways, etc.
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