This will be the first new listing in the new financial year 2023-24.
Following the completion of last week’s public offering, road construction company Udayshivakumar Infra will complete its much-anticipated share allotment on March 28th. Participants can view their application status either on the BSE portal or on the IPO Registrar’s website by following a few simple steps.
On the IPO registrar portal
a) Select “DPID/Client ID” or “PAN” and enter accordingly
b) Finally, click the “Search” button.
Alternatively on the BSE website,
a) Select Emission Type “Equity” and Emission Name “Udayshivakumar Infra Limited”.
b) Enter either “Application number” or “PAN”.
c) Check the box “I’m not a robot”; and finally click on the “Search” button.
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Unsuccessful investors will receive refunds in their bank accounts by March 29th and stock shares will be credited to eligible investors’ Demat accounts by March 31st.
Finally, Udayshivakumar Infra will be listed on the BSE and NSE next month on April 3rd according to the schedule indicated in the prospectus. The delay is due to the March 30 market holiday for Ram Navami.
This will be the first new listing in the new 2023/24 financial year.
Gray Market Premium
Currently, Udayshivakumar Infra IPO shares are trading at a massive premium of 35 to 40 percent above the expected final issue price of 35 rupees on the gray market, an unofficial trading platform, analysts said for anonymity.
Generally, participants look to the gray market platform to learn the expected listing price for an IPO.
Also Read: Avalon Tech IPO valued at Rs 865 crore opens for subscription on April 3rd
The Karnataka-based construction company launched its Rs 66 crore IPO on March 20-23, which is a brand new issue. The offering drew a strong response from investors, drawing 30.63 times, supported by all categories of investors.
High net worth individuals and qualified institutional investors bought 60.42 and 40.5 times the allotted quota, respectively, while retailers bid 14 times their reserved share.
The funds are used by the company for additional working capital requirements and general corporate purposes.
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