K2 Infragen Makes Impressive Debut on NSE SME

K2 Infragen Makes Impressive Debut on NSE SME/Mint

VoM News Desk | April 8, 2024 | 01:40 PM IST | Breaking News | Follow on Google News

K2 Infragen Makes Impressive Debut on NSE SME

K2 Infragen Makes Impressive Debut on NSE SME

K2 Infragen witnessed a remarkable debut on the NSE SME platform, with its share price opening at ₹167, a substantial 40.34% premium over the issue price of ₹119. The IPO, which opened for subscription from March 28 to April 3, garnered significant interest from investors, with a subscription status of 51.47 times on the fourth day.

Established in 2015, K2 Infragen Limited operates as an engineering, procurement, and construction (EPC) firm, previously known as K2 Powergen Private Limited. The company’s structure comprises two divisions: EPC and Trading. Its listed peers include Markolines Pavement Technologies Ltd, W S Industries (India) Ltd, Udayshivakumar Infra Ltd, and Advait Infratech Ltd.

Notably, K2 Infragen Limited reported a substantial increase in profit after tax (PAT) and revenue between March 31, 2022, and March 31, 2023, with PAT soaring by 463.79% and revenue rising by 103.25%.

The K2 Infragen IPO, valued at approximately ₹40.54 crore, consisted of a new issuance of 3,406,800 equity shares with a face value of ₹10 each. The net proceeds from the IPO will be utilized for working capital requirements, capital expenditures, and general corporate purposes.

Expert Global Consultants Private Limited served as the book running lead manager for the IPO, while Kfin Technologies Limited acted as the issue’s registrar, and Rikhav Securities functioned as the market maker.

The grey market premium (GMP) for the K2 Infragen IPO was reported at +63, indicating investors’ willingness to pay a premium of ₹63 over the issue price. Anticipated listing prices of ₹182 per share were proposed, reflecting a significant premium and investor confidence in K2 Infragen’s prospects.

Source: Mint

VoM News Desk

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