Likhita Infra zooms 5% after Ashish Kacholia picks up 2% stake

Shares of Likhitha Infrastructure rallied more than 5% during Thursday's trade to a new record high after Dalal Street veteran Ashish Kacholia picked stake in the firm.

Seasoned investor Kacholia picked up more than 2% stake in the company via a block deal on Wednesday, according to data from National Stock Exchange (NSE).

He picked up 3,97,000 equity shares of the civil construction company at an average price of Rs 386 apiece, aggregating to more than Rs 15.32 crore.


Following this development, shares of Likhitha Infrastructure zoomed over 5% to Rs 496.15, its new record high. The stock had settled at Rs 471.05 on Wednesday.

The company board at its meeting held on September 26, approved a stock split in a ratio of 1:1. Likhitha Infrastructure has fixed Friday, December 02, 2022, as the record date for the same.

The stock will turn ex-date for stock split on Friday, which means that eligible shareholders will get two shares with a face value of Rs 5 each for every one share they hold of face value of Rs 10 each.

The share price of Likhita Infra has rallied more than 70% in the last one month, whereas the stock is up over 300% from its IPO price of Rs 120. The company was listed on bourses in November 2020.

Likhitha Infra is an oil & gas pipeline service provider, majorly focused on laying pipeline networks along with the construction of associated facilities and providing operations and maintenance services to the oil and gas companies.