Indifra Ltd Share Price – NSE

Diversified, Small Cap

The scrip was listed at Rs 72, a premium of 10.77% compared with the initial public offer (IPO) price. The stock was currently frozen in a lower limit of 5% over its listing price.

The counter hit a high of Rs 73 and a low of Rs 68.40. About 3.68 lakh shares of the company changed hands at the counter.

Indifra's IPO was subscribed 6.89 times. The issue opened for bidding on 21 December 2023 and it closed on 26 December 2023. The price of the IPO was fixed at Rs 65 per share.

The IPO comprised fresh issue of 21,60,000 shares. The promoter and promoter shareholding diluted to 67.55% from 96% pre-IPO.

The company intends to utilize the net proceeds for to meet working capital requirements, for general corporate purpose and funding investments for acquisitions and public issue expenses.

Indifra caters to various gas distribution companies for management of their gas distribution pipelines. As of December 2023, the company is providing gas pipeline management services to Charotar Gas Sahakari Mandali (CGSML). The company has catered Adani Gas. As on 30 June 2023, the company has total 11 employees.

The company recorded revenue from operations of Rs 0.62 crore and net profit of Rs 0.03 crore for the period as on 30 June 2023.

Powered by Capital Market - Live News