Oil and Gas Pipeline Infrastructure Service Provider Likhita Infrastructure will dispatch its first sale of stock (IPO) on September 29. The value band for this issue is set at Rs 117-120 for every offer.

The most recent public contribution incorporates 51 lakh value shares. While the advertisers' stake diminished to 74.11 percent after the IPO.

The organization intends to raise Rs 61.2 crore through its first open issue, which closes on October 1.

The assets raised through the IPO will be utilized by the Company for working capital needs.

Advanced by Srinivasa Rao Gaddipati and Likhita Gaddipati, Likhita occupied with giving foundation, oil and gas pipelines, metropolitan gas dispersion ventures, crosscountry pipeline undertakings, and activities and upkeep administrations. The organization actualized the first trans-public crosscountry hydrocarbon pipeline venture among India and Nepal.

Though the organization has a solid customer base in India, including private and public players ONGC, HCG, Indian Oil, and GAIL.

During the budgetary year, Likhita Infrastructure's income developed by 15.8 percent to Rs 162.79 crore and 11.3 percent to Rs 1988 crore in the year-prior period. Income before intrigue, assessment, deterioration, and amortization (EBITDA) rose 4.2 percent to Rs 31.22 crore for the year finished March 2020, while edge FY19 declined to 19.18 percent from 21.33 percent.

The organization detailed 22 percent CAGR from tasks and 41 percent benefit during FY18-FY20. Starting at July 2020, its request book is around Rs 950 crore.

The organization could profit by government interest in gas foundation.

India expects to put $ 100 billion in gas foundation by 2022 and add another 228 urban communities to its Gas Distribution (CGD) network. These incorporate RLNG terminals, pipeline ventures, gas lattice finishing, and the foundation of CGD networks in more urban areas.

Book Running Lead Manager for Unistone Capital Issue.

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