Likhitha Infrastructure has set its IPO price band at Rs 117-120 per share as per the information shared by the company with media. The IPO will open on September 29. The company is planning to sell 25.86 percent of post-issue stockholding with the initial public offer. At the upper price band, Likhitha Infrastructure will manage to raise Rs 61.2 crore from the IPO proceeds.

The initial share-sale will open for public subscription on September 29 and close on October 1. The company informed that proceeds of initial share-sale will be utilised towards its working capital requirements so as to capitalise on the growing demand from oil and gas sector, and for general corporate purposes.

The Hyderabad-headquartered firm has over two decades of experience in laying pipeline networks along with construction of associated facilities, as well as providing operations and maintenance services to leading city gas distribution companies in India.

Likhitha Infrastructure, which is promoted by Srinivasa Rao Gaddipati and Likhitha Gaddipati, had executed the first trans-national cross-country pipeline of SouthEast Asia, connecting India to Nepal.