Likhitha Infra lists at premium

about 5 months ago
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There was a brand new listing today and once again, it got listed at a premium.

Likhitha Infrastructure got listed on the BSE at Rs.130.10 v/s IPO price of Rs.120.

The IPO, which was earlier to close on 29th Sept, was extended up to 7th Oct with a revised price band – from Rs.117 – 120 to Rs.116 – 120. This was due to poor response from institutional investors.

The issue was subscribed 9.5 times.

In our New Issue Analysis, we had concluded, “While financials are strong with healthy margins coupled with nil leverage, micro cap status and infrastructure theme not being in focus on the secondary markets currently go against the issue. Hence, only those with high risk appetite may allocate a small portion to the IPO.”

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