IPO News

Likhitha Infra – Should investors hold or book profit?

Shares of Likhitha Infrastructure saw a good listing on October 15. The stock opened with an 8.4 percent premium at Rs 130.10 on the BSE against the issue price of Rs 120.

During the session, it went up to Rs 136.60 (up 13.83 percent over IPO price) to stop at 5 percent upper circuit from the opening price.

The market capitalisation of the company was at Rs 269.44 crore, with promoters’ shareholding in the company at 74 percent post issue

Analysts advised the investors to pick profit-booking either fully or partially if the shares list at a premium over issue price and invest that money into other high quality stocks.

Likhitha Infrastructure successfully raised Rs 62 crore via its 51 lakh shares public issue which was extended by additional three working days till October 7 from October 1. The issue opened for subscription on September 29.

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