Likhitha Infrastructure Ltd Share Price

History of Likhitha Infrastructure Ltd

Likhitha Infrastructure Limited was incorporated in India in 1998 as a Private Limited Company. The Company got converted into a Public Limited Company and changed the name from Likhitha Infrastructure Private Limited to Likhitha Infrastructure Limited . The Company is engaged in the business of laying gas supply pipe lines and irrigation canals, building bridges over the canals and related maintenance works. The Company's operations include three principal business lines namely, Cross Country Pipelines and associated facilities, City Gas Distribution including CNG stations and Operation & Maintenance of CNG/PNG services. During the FY2018,the company has allotted 3500000 equity shares of Rs 10 each as bonus shares to the shareholders of the company in the ratio of 3.5:1. During ... the FY2020,the operations slightly got affected during the months of February and March due to Covid-19 impacting the works at on-going projects and initiation of new projects. The operations at on-going projects have been commenced at a slow phase after the lock-down, except at few projects due to severity of Covid-19 in those areas. It would take some time to bring back the total manpower as people have various apprehensions of the situation. There was all-round lock-down imposed by the Government of India on pandemic situation due to COVID-19 which impacted the operations for the months of March, April and May 2020. Thereafter, operations of the projects have started in slow phase. The Company is presently working with all PSU oil companies across India. Viewing the capacity expansion by the major PSU's, the Company is also planning to expand the capacity to execute work of laying of oil and gas pipelines in the range of 250 to 300 Kms per year. The Company commissioned pipeline project of size 10' x 69 kms from Mothihari, Bihar to Amlekhganj, Nepal in 2019. During the financial year 2019-20, the Company completed its Initial Public Offer(IPO) of 51,00,000 Equity Shares of Rs.10/- each at a price of Rs.120/- per share (including a premium of 110 per share).The Shares offered in IPO were allotted on 12 October 2020. The securities of the Company are listed on the BSE Limited and National Stock Exchange of India Limited on 15 October 2020. The Company incorporated a joint venture company in the Kingdom of Saudi Arabia called 'Likhitha HAK Arabia Contracting Company' w.e.f April 11, 2023.