Let’s have a detailed review of the company and analytics of the Likhitha Infrastructure Limited IPO release date, IPO offer price, subscription, Likhitha Infrastructure IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
|Price Band||Rs.117 – Rs.120|
|Listing At||BSE, NSE|
|Min. Order Quantity||125 Shares|
|Listing Date||Oct 12, 2020|
|Fresh Issue||Rs 61.20 Cr|
|IPO Size||Rs 61.20 Cr|
Summary of Likhitha Infrastructure IPO
They are 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.
Their main focus and vision is to sustain profitable growth by executing projects in time to the satisfaction of their clients. They are 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 Promoters of this company are MR. SRINIVASA RAO GADDIPATI and MS. LIKHITHA GADDIPATI. The lead manager to the issue is UNISTONE CAPITAL PRIVATE LIMITED. The Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
Likhitha Infrastructure IPO Dates
The opening and the closing date of Likhitha Infrastructure IPO is Sep 29, 2020 – Oct 1, 2020.
Likhitha Infrastructure IPO Subscription
|Day / Date||NII||RII||Total Subscription|
|1st Day – Sep 29|
|2nd Day – Sep 30|
|3rd Day – Oct 1|
|Shares Offered or Net Issue|
The shares subscribed by the public will be updated here.
Likhitha Infrastructure IPO Allotment Status
Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
|Basis of Allotment Finalization||Oct 7, 2020|
|Refunds Initiation||Oct 8, 2020|
|Credit of Shares to Demat Account||Oct 9, 2020|
|Share Listing Date||Oct 12, 2020|
Likhitha Infrastructure IPO Price Band / Cash Price
The face value of each share is Rs.10, and the cash price of the IPO is Rs. 117 – Rs. 120.
Likhitha Infrastructure IPO Size
This Initial Public Issue of 15,72,000 Equity Shares of Rs.10 each for cash at a price of Rs. 117 – Rs. 120. per equity share aggregating to Rs.723.12 lakhs.
Likhitha Infrastructure IPO Share Offering
Net Issue : The Net Issue of 51,00,000 Equity Shares of Rs.10 each at Rs. 117 – Rs. 120 per Equity Share aggregating to Rs. [●] lakhs.
Likitha Infrastructure IPO – Live Performance
The listing date of this IPO is Sep 21, 2020. You can check the live performance of the IPO here, only after it is listed on exchanges.
|Live IPO Performance – Likitha Infrastructure Share Price|
Likhitha Infrastructure IPO Grey Market Premium
The Likhitha Infrastructure IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Likhitha Infrastructure Limited – Company Overview
Over the years, they have diversified the gamut of services being provided by their Company from Cross- Country Pipeline Projects (CCP); City Gas Distribution (CGD) Projects to providing Operation & Maintenance (O&M) Services to CGD Companies.
Their client base comprises of established players in the Oil and Gas Industry, both in public and private sector.
Likhitha Infrastructure Significant Presence
They have presence (including past operation) in more than 16 states and 2 Union Territories in India. Their 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, they have increased the scale of their 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. They believe that the growth and development of their Company during the past years have been the result of their client centric approach and core competence in the field of pipeline infrastructure.
Likhitha Infrastructure – Business Classification
Their business operations can be broadly classified under the following heads:
PIPELINE INFRASTRUCTURE: Their pipeline infrastructure business comprises of undertaking projects for laying of pipelines in Cross- Country Pipeline projects as well as for setting up City Gas Distribution network and construction of associated facilities.
OPERATION & MAINTENANCE SERVICES: Their Company also provides Operations & Maintenance Services to CGD Companies. Their Operation and Maintenance (O&M) Services business includes management services for CGD networks, other repairs, modernization, scheduled shutdowns, as well as overhauling and maintenance of existing pipelines.
Operation & Maintenance activities involves deploying manpower and tools required for replacement of existing pipelines, emergency repair and maintenance, shifting and compressor hook up of pipelines with associated facilities.
Likhitha Infrastructure Business Process
Contracts are primarily awarded through “Competitive Bidding” Tender method based on combination of factors amongst which technical qualifications, proposed project team, schedule, past performance on similar projects, the bid amount are the major determining factors. The process requires each bidder to prequalify for the activities by meeting criteria that includes technical capabilities and financial strength.
Likhitha Infrastructure Limited: Business strategies
- Continue to expand their operations
- Further growth in their O&M services offerings
- Retaining Skilled Manpower
- Optimum Utilization of Resources
- Continue to develop Client relationship and expand their Client base
- Focus on Performance and Project Execution
- Continue to focus on safety and environment standards
Likhitha Infrastructure Ltd – Financial Statements
On the basis of Standalone statement:
|Amount (in INR & Lakhs)|
|Profit After Tax||1,987.93||1,785.51||716.22|
Earnings per Equity Share (in Lakhs)
|Amount (in INR & Lakhs)|
|Basic & Diluted||13.59||12.21||4.90|
From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements
- Their revenue, as per the Restated Financial Statements was Rs.10805.98 Lakhs, Rs.8860.56 Lakhs, Rs.14054.68 Lakhs and Rs.7247.93 Lakhs for the Fiscals 2017, 2018, 2019 and for the period ended September 30, 2019 respectively.
- Their PAT as per the Restated Financial Statements was, Rs. 790.45 Lakhs, Rs. 716.22 Lakhs, Rs. 1785.51 Lakhs and Rs. 777.76 Lakhs for the Fiscals 2017, 2018, 2019 and for the period ended September 30, 2019, respectively.
Likhitha Infrastructure IPO – Promoters
The Promoters of this company are:
- SRINIVASA RAO GADDIPATI
- LIKHITHA GADDIPATI
List of Related Parties (Key Managerial Personnel)
- Santhosh Kumar Gunemoni, Company Secretary and Compliance Officer
- Sekhar Narasimha Narahari, Chief Financial Officer
- Sudhanshu Shekhar, Chief Executive Officer
Interest in promotion of the Company
Their directors namely, Mr. Srinivasa Rao Gaddipati, Ms. Likhitha Gaddipati, Mrs. Sri Lakshmi Gaddipati and Mr. Kutumbha Rao Gaddipati, being members of the promoter and promoter group of their Company, may be deemed to be interested in the promotion of their Company.
Interests of Promoter in property of their Company
Their directors have no interest in any property acquired or proposed to be acquired by their Company two (2) years prior to the date of this Draft Red Herring Prospectus.
Likhitha Infrastructure IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Up to 51,00,000 Equity Shares, aggregating up to Rs.[●] Lakhs|
|QIB Portion||Not more than [●] Equity Shares of Rs.10 each|
|Non- Institutional portion||Not less than [●] Equity Shares of Rs.10 each|
|Retail portion||Not less than [●] Equity Shares of Rs.10 each|
|Equity Shares outstanding prior to the Issue||1,46,25,000 Equity Shares|
|Equity Shares outstanding after the Issue||[●] Equity Shares|
Likhitha Infrastructure IPO Issue Object
These are the IPO Issue Objects of the company:
- Meet the Working Capital Requirements;
- Meet General Corporate Purposes;
- And, meet Issue Expenses.
Likhitha Infrastructure Limited: Key Strength
- They have a strong presence in India and significant experience
- Efficient Business Model
- Strong financial performance
- Scalability of operations
- Strong Project execution capabilities
- Long term relationship with clients and repeat business
- Highly experienced Management Team
- Diverse fleet of sophisticated equipment
Likhitha Infrastructure IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoter and proficient management team.
- Established track record in executing pipeline infrastructure projects and O & M Services
- Long standing relationship with their customers
- Low debt equity ratio
Likhitha Infrastructure IPO – Quantitative Factors
|Basic & Diluted EPS||RONW in %||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Price band of Rs.117 – Rs.120 to Rs.10 per Equity Share
Likhitha Infrastructure Limited: Competitive Peers
As on the date of this Draft Red Herring Prospectus, there are no listed companies in India which are engaged in the same line of business as their Company.
Likhitha Infrastructure IPO Lead Managers
|UNISTONE CAPITAL PRIVATE LIMITED|
12, Floor no. 02, Shashank CHS Ltd,
Manmala Tank Road,
Near Starcity Cinema Mahim,
Mumbai 400 016, India.
Telephone: +91 9322997964
Investor grievance email: firstname.lastname@example.org
Contact Person: Mr. Brijesh Parekh
SEBI registration number: INM000012449
Likhitha Infrastructure IPO Registrar to Offer
|Registrar to the Offer|
|BIGSHARE SERVICES PRIVATE LIMITED|
1st Floor, Bharat Tin Works Building
Opp. Vasant Oasis, Makwana Road
Marol, Andheri (East), Mumbai 400059, India.
Telephone: +9122 6263 8200
Facsimile: +9122 6263 8280
Investor grievance email: email@example.com
Contact Person: Mr. Ashish Bhope
SEBI Registration Number: INR000001385
- Statutory Auditor – NSVR & Associates LLP
- Legal Counsel to the Company – M/s Alliance Law
- Bankers to the Company – [●]
Likhitha Infrastructure IPO Review by Top 10 Stock Brokers
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