Oil & gas pipeline infrastructure services provider Likhitha Infrastructure kick started trading on the first day with a 8 percent premium to the issue price on October 15.
The stock listed at Rs 130 on the BSE against issue price of Rs 120.
On the National Stock Exchange, the opening price was at Rs 130, a 8 percent premium to IPO price.
At 10:12 hours IST, it was trading at Rs 132.55, up 12.50 percent on the BSE, with volumes of 169550 equity shares, while on the National Stock Exchange, it climbed 12.75 percent to Rs 135, with volumes of 1137265 shares.
Likhitha Infrastructure raised Rs 61 crore via maiden public offer which was launched on September 29 with a price band of Rs 117-120 per share, but later extended up to October 7 with a revised price band of Rs 116-120 per share due to undersubscription in qualified institutional buyers' category. The issue was subscribed 9.5 times.
The company will utilise issue proceeds for its working capital requirements and general corporate purposes.
Having over two decades of experience, Likhitha Infrastructure develops pipeline networks alongwith construction of associated facilities, as well as provides operations & maintenance services to leading city gas distribution (CGD) companies in India.
The company is led by Srinivasa Rao Gaddipati, with around three decades of technical experience and co-promoted by his daughter Likhitha Gaddipati.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
