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Change in quota will affect listing:
Along with the extention of closing date, the company changed the number of shares offered to QIBs and NIIs .
NII quota is sharply increased allowing more or less firm allotment to NIIs and this may affect listing of this scrip. Some of theQIB & Retail applicants withdrew their applications and hence oversubscription is reduced marginally.
Grey Market News of Likhitha Infrastructure Limited#
On 11 October 2020
GMP Rs. 0
Application :Rs. 0
Subject to Rates : Rs. 0
For Past trend ,See Page bottom box
As on 7 Oct 20 @ 5.00 pm
QIB : 51000 shares : 21.99 T
NII : 3264,000 Shares : 1.54 T
RII : 1785,000 Shares : 23.71 T
Total : 5100,000 Shares : 9.51 T
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Short Note about Likhitha Infrastructure Limited :
Likhitha Infra is an Oil & Gas pipeline infrastructure service provider in India, focused on laying pipeline networks along with construction of associated facilities; and providing Operations & Maintenance services to the City Gas Distribution (“CGD”) Companies in India. The Company was founded by the Promoter, Mr. Srinivasa Rao Gaddipati, in the year 1998 and has been engaged in the same line of business for over two decades.
Over the years, it has diversified the gamut of services being provided by the Company from Cross Country Pipeline Projects (CCP); City Gas Distribution (CGD) Projects to providing Operation & Maintenance (O&M) Services to CGD Companies. Its client base comprises of established players in the Oil and Gas Industry, both in public and private sector.
Likhitha Infra has presence (including past operation) in more than 16 states and 2 Union Territories in India. The Company has successfully laid over 600 Kms of Oil and Gas pipelines including steel and Medium-Density Polyethylene (“MDPE”) network in past 5 fiscals. Further, it has increased the scale of its operations by adopting a strategy of expansion across regions and have strategically expanded to geographies where there is a demand for providing pipeline infrastructure and O&M services.
Likhitha Infra is proud to have executed 10.75” OD x 69 Kms Petroleum Product Pipeline for the first ever Trans-National Cross-Country Pipeline of South-East Asia connecting India to Nepal, in the Year 2019, for supply of petroleum products.
The Company has grown significantly during the past, under the leadership and guidance of its Promoter, Mr. Srinivasa Rao Gaddipati, who is having vast technical experience of over three decades in the oil and gas pipeline infrastructure business and is the guiding force behind the successful execution of our business strategies over the years.
Its other Promoter, Ms. Likhitha Gaddipati has been recently associated with its Company and has taken charge as the Non-Executive Director of the Company. Her impressive academic background in the field of information technology and management from an esteemed university in the United States and past work experience with a Big 4 consulting firm, are expected to benefit the Company in upgrading the IT systems and in bringing further efficiency in its operations.
Some of the qualitative factors, which form the basis for computing the price, are:
# Experienced Promoter and proficient management team.
# Established track record in executing pipeline infrastructure projects and O & M Services
# Long standing relationship with our customers
# Low debt equity ratio
The promoters of Likhitha Infrastructure Limited:
Mr. Srinivasa Rao Gaddipati &
Ms. Lithika Gaddipati
Main object of Likhitha Infrastructure Limited IPO :
The Company proposes to utilise the Net Proceeds towards funding the following objects:
1. meet the Working Capital Requirements;
2. meet General Corporate Purposes
IPO Particulars of Likhitha Infrastructure Limited :
IPO Opens on : 29 September 2020
IPO Closes on : 7 October 2020
Issue Type: Book Built Issue IPO
The Offer consists of a Fresh Issue of 5100,000 Equity Shares aggregating to Rs 61.20 crore
Issue Size Rs. 61.20 Crore
Fresh Issue : Rs. 61.20 crore
Face Value per share : Rs. 10
Price Band: Per Equity Share: Rs. 116-120
Minimum Order Quantity: 125 Shares
Listing will at: BSE,NSE
Pre Issue Share Holding :99.96%
Post Issue Share Holding :74.11%
RII Min Application : 125 shares , Rs. 15,000
RII Max application : 1625 shares, Rs. 195,000
Shares offered to
QIB 25,50,000 Shares = INR 30.60 Crs
NII 765,000 Shares = INR 9.18 Crs
RII 1785,000 Shares = INR 21.42 Crs
( Lot size: 120 = 14875 Forms)
Price Band announced on :
Anchor List opens on :
Offer Opens : 29 Sept 20
Offer Closes : 7th October 20
Finalisation of Basis of Allotment on 13 October 20
Unblocking of ASBA on 13 October 20
Credit to Demat Accounts on 15 October 20
Listing on NSE & BSE on 15 October 20
Financial snapshot Likhitha Infrastructure Limited :
Earnings per Share 2018-19 Rs 12.21
Earnings per Share 2017-18 Rs 4.90
Book Value of the Share as on 30.09.2019 Rs 39.66
Return on Net Worth: 18-19 34.98 %
Return on Net Worth: 17-18 21.60 %
Equity shares prior to the IPO: 1,46,25,000
Equity shares after the IPO: 197,25,000
Upper Price Band/last EPS: 9.82
Upper offer price/Book Value Ratio: 3.02
There are no listed companies in India which are engaged in the same line of business as our Company, hence comparison with industry peers are not applicable.
Lead Managers of Likhitha Infrastructure Limited:
CKP FINANCIAL SERVICES PRIVATE LIMITED
Registrar to the IPO :
BIGSHARE SERVICES PRIVATE LIMITED
Registered Office of Likhitha Infrastructure Limited :
Flat No. 701, Plot No.8-3-940 and 8-3-940/A to E,
Tirumala Shah Residency,
Yellareddy Guda, Ameerpet,
Mr. Santhosh Kumar Gunemoni
Total Subscription of Likhitha Infrastructure Limited:
on Day 1(on 00.00.2020 at 17.00 IST)
QIB : shares offered:xx Subscribed
NII : Shares offered: xx Subscribed : xx
RII : Shares offered : XX Subscribed : xx
Total : Shares offered :XX Subscribed : xx