Hyderabad: Likhitha Infrastructure Limited, a Hyderabad-headquartered oil and gas pipeline Infrastructure service provider, has announced the price band of Rs 117- Rs 120 for its initial public offering. The IPO will open on Tuesday, September 29, 2020, and close on Thursday, October 01, 2020.
The IPO consists of fresh issue of up to 51,00,000 equity shares representing 25.86 per cent of the post issue shareholding, expecting to raise a total amount up to Rs 61.20 crore. The proceeds of the IPO will be utilised by the company towards its working capital requirements so as to capitalise on the growing demand from oil and gas sector, and for general corporate purposes.
The company has over two decades of experience in laying of pipeline networks along with construction of associated facilities, as well as providing operations and maintenance services to leading City Gas Distribution companies in India.
The company has executed the first Trans-National Cross-Country Pipeline of South-East Asia connecting India to Nepal. Its projects are spread across over 16 States and 2 Union Territories in India and has laid over 600 kms of oil and gas pipelines including steel and Medium-Density Polyethylene network in past five fiscals.
Additionally, the company has laid approximately 800 kms of oil and gas pipelines for on-going projects. The company has a client base consisting of leading gas distribution companies in India including both the private and public players and a strong order book (i.e. the unexecuted portion of the much larger total contract value) of approximately Rs 663 crore as on July 31, 2020.
For the Financial Year 2019-20, the company clocked a total revenue of Rs 162.79 crores, an EBIDTA of Rs. 31.22 crores, profit after tax of Rs 19.87 crores, and operating cash flow of Rs 19.15 crores.
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