Udayshivakumar IPO listing: Udayshivakumar Infra (USK) shares made a lukewarm debut on stock exchanges BSE and NSE on Monday, after the IPO of the Karnataka-based company operating in road construction concluded on March 23 with an overall subscription of 32.5 times the equity on offer.
Udayshivakumar IPO listing (USK), share price: The stock of Karnataka-based road construction company Udayshivakumar Infra made a muted listing in the secondary market on Dalal Street on Monday. The stock debuted at Rs 35 apiece on BSE, the upper end of the price range of its IPO. USK shares began their journey on NSE at Rs 30 apiece, a discount of 9.1 per cent to the lower end of the issue price band.
The listing on stock exchanges BSE and NSE comes after the Udayshivakumar IPO concluded last month with an overall subscription of 32.5 times the shares on offer, with active participation across categories.
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The IPO — bidding for which was available from March 20 to March 23 — saw a robust response from different types of investors.
Udayshivakumar Infra listing: Debut price on BSE and NSE
Udayshivakumar shares moved within a range of 33.3-35 in early deals on BSE on the listing day.
On NSE, the USK stock gyrated in the 29.2-31.5 apiece band.
At noon, the USK stock quoted at its intraday lows on the bourses.
Udayshivakumar Infra IPO: Subscription details
| Investor category | Subscription (No. of times the shares reserved) | Reservation |
| Qualified Institutions | 42.92 | 10% |
| Non-Institutional Buyers | 64.08 | 30% |
| Retail Investors | 14.95 | 60% |
| Overall | 32.5 |
Udayshivakumar Infra IPO: Issue price, lot size and other key details
Potential investors could bid for Udayshivakumar (USK) shares under the IPO in a price range of Rs 33-35 in multiples of 428 shares — translating to Rs 14,124-14,980 per lot.
The basis of allotment was finalised on March 28 and shares credited to the accounts of winning bidders on March 31.
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What does Udayshivakumar Infra do?
Udayshivakumar Infra is engaged in the construction of national highways, state highways, district roads and smart roads. The company primarily operates in Karnataka.
