Udayshivakumar Infra IPO: Latest GMP as all eyes on shares listing after allotment


The basis for giving out shares in the Udayshivakumar Infra IPO has been finalised, and now everyone is looking forward to the company’s shares being listed next week. Shares of the company are expected to be listed on the stock exchanges BSE and National Stock Exchange (NSE) on Monday, April 3, 2023.

Market watchers say that UdayShivakumar Infra shares are going for a premium (GMP) of 9 on the grey market today. This is less than the previous sessions, when they were going for around 14.

On Wednesday, March 23, 2023, 5.15 times as many people signed up for Udayshivakumar Infra Ltd’s initial public offering (IPO) as on Monday, March 20, 2023. The IPO began on Monday, March 20, 2023. According to data from the exchange, 10,29,54,972 shares were bid on out of a total of 2 crore shares. The IPO gave out new shares of stock worth up to 66 crore, and each share cost between 33 and 35.

Udayshivakumar Infra builds roads as its main business. It bids on projects to build roads, bridges, canals, and industrial areas in Karnataka. Some of these projects are for government departments. The group is working on 25 projects at the same time. The founder of the company is Udayshivakumar.

Udayshivakumar Infra’s initial public offering (IPO) was made up of 20,000,000 new equity shares with a face value of 10 each, which added up to 66 crore. The money from the issue will be used to pay for additional working capital needs and for general business purposes.

“Over the last three fiscal years, the company’s sales and profits have gone up and down. As of FY22, the company’s EBITDA margins were 13.41% and its PAT margins were 6.54%, which also looks boring compared to its competitors. “Based on FY22 earnings, the asking price-to-earnings ratio is around 10x at the upper end of the price range,” said Abhay Doshi, co-founder of Unlisted Arena.

Source: Team CurrencyVeda