Indifra shares marked a robust entry into the stock market on Friday, opening at ₹72 per share on the NSE Emerge. This represented a notable premium of 10.76% over the issue price of ₹65 per share.
The Indifra IPO, categorized as an SME IPO, was a fixed price issue amounting to ₹14.04 crore. The entirety of the issue comprised a fresh offering of 21.6 lakh equity shares, each priced at ₹65. The subscription period for the IPO commenced on December 21 and concluded on December 26. Following the finalization of IPO allotments on December 27, the shares were listed on December 29.
The overall subscription for the Indifra IPO stood at an impressive 7.21 times. Notably, retail investors displayed strong interest, subscribing 12.07 times, while the Other category recorded a subscription of 2.34 times by the end of the subscription period.
Beeline Capital Advisors Pvt Ltd served as the book running lead manager for the Indifra IPO, with Kfin Technologies acting as the IPO registrar.
The funds raised through the IPO are earmarked for various purposes, including meeting working capital requirements, general corporate needs, and funding investments for acquisitions.
Indifra Ltd, an Airan group company, specializes in providing pipeline-related infrastructure services to gas companies and supplies electrical appliances. The successful market debut reflects investor confidence in the company’s prospects and its strategic positioning within the sector.
