Likhitha Infrastructure lists at 8% premium over the issue price
Likhitha Infrastructure stockslisted at ₹130.10, is an upside of 8% to the revised IPO price band.
- Within minutes after listing the shares gained over 5% of their value, and the shares were trading at ₹136.60 apiece at 10:10 am.
- The total market cap of
Likhitha Infrastructurerose to ₹260.47 crore at 10:10 am.
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However, within minutes after listing the shares gained over 5% of their value, and the shares were trading at ₹136.60 apiece at 10:10 am.
The total market cap of Likhitha Infrastructure rose to ₹260.47 crore at 10:10 am. A total traded quantity of 1.57 lakh shares changed hands on BSE, amounting to a turnover of ₹2 crore. The company will deal with the symbol of ‘LIKHITHA’ on the Indian stock exchanges.
Why did it fail to garner investors’ interest?
The investor pessimism for its shares already reflects in the subscription number ahead of the listing. The company had to revise its price band from ₹117-₹120 to ₹116-₹120/share and extend the IPO by three days after receiving a weak response from Qualified Institutional Buyers (QIBs).
AdvertisementAnd, analysts were already skeptical about the company’s listing after a subdued investor response. “Nothing much was left on the table at the issue price,” said Keshav Lahoti, Associate Equity Analyst, Angel Broking.
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Likhitha Infrastructure trades at 13% grey market premium ahead of listing today
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