Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
Oil & gas pipeline infrastructure services provider Likhitha Infrastructure listed at 8.4% over issue price and closed at 13.8% over issue price. From this IPO, we were not having big hopes of a stellar listing. Market cap of the Company at today's closing price is Rs 270 cr and out of that ~74% is held by the promoter. After 15 mins of its listing, there was hardly any movement in the share price of the Company as free float available in the market is quite small, so we advise investors to stay away from this stock. There are better options available in the market for investment in the infrastructure sector with no issue with respect to buying or selling the stock.