Indifra shares made a strong stock market debut on Friday as the stock was listed at ₹72 apiece on the NSE Emerge, a premium of 10.76% to the issue price of ₹65 per share.
The bidding for Indifra IPO opened on December 21 and ended on December 26. The IPO allotment was finalized on December 27 and the shares listing date was fixed as December 29.
Indifra IPO was an SME IPO and a fixed price issue of ₹14.04 crore. The issue was entirely a fresh issue of 21.6 lakh equity shares at a price of ₹65 per share.
Indifra IPO was subscribed 7.21 times in total. The public issue received 12.07 times subscription in the retail category and 2.34 times in the Other category by the end of the subscription period.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Indifra IPO, while Kfin Technologies is the IPO registrar.
The company proposes to utilise the issue proceeds to meet working capital requirements, general corporate purposes and funding investments for acquisitions.
Indifra Ltd is an Airan group company and provides pipeline related infra services to gas companies and supplies electrical appliances.