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Business News/ Markets / Ipo/  K2 Infragen IPO: SME issue subscribed 46.35 times on day 4, check GMP and other key details
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K2 Infragen IPO: SME issue subscribed 46.35 times on day 4, check GMP and other key details

The K2 Infragen IPO was subscribed over 46.35 times on the third day of bidding. The SME IPO received 11,40,14,400 share applications against offered 24,60,000 shares.

K2 Infragen IPO (https://www.investorgain.com/)Premium
K2 Infragen IPO (https://www.investorgain.com/)

Engineering, procurement and construction company K2 Infragen initial public offerings (IPO) opened for subscription on March 28. The small and medium enterprise (SME) public issue was subscribed over 46.35 times on the fourth day of bidding.

Established in 2015, K2 Infragen Limited specializes in engineering, procurement, and construction (EPC) services. The company specializes in project planning, material procurement, on-site execution, and comprehensive project management, culminating in project commissioning. Our portfolio encompasses a wide range of projects including water supply, railroad infrastructure, road construction, and civil engineering endeavors.

The K2 Infragen IPO comprises 3,406,800 shares. Of these, 631,200 shares (18.53%) are allocated to Qualified Institutional Buyers (QIB), 474,000 shares (13.91%) to Non-Institutional Investors (NII), 1,105,200 shares (32.44%) to Retail Individual Investors (RII), and 946,800 shares (27.79%) are designated for Anchor investors.

K2 Infragen IPO subscription status

The K2 Infragen IPO was subscribed over 46.35 times on the third day of bidding. The SME IPO received 11,40,14,400 share applications against offered 24,60,000 shares.

The retail portion received 4,49,83,200 shares, while QIB and NII categories received 1,47,52,800 and 5,42,78,400 applications.

K2 Infragen IPO details

The bidding for subscription to the K2 Infragen IPO commenced on March 28, 2024, and is set to conclude on April 3, 2024. 

The SME issue price band has been set at 111 to 119 per share. Investors can bid for a minimum of 1200 shares and in multiples thereof. The minimum amount of investment required by retail investors is 142,800.

The K2 Infragen IPO is a book built issue of 40.54 crores and is entirely a fresh issue of 34.07 lakh shares.

The allotment for the K2 Infragen IPO is anticipated to be on Thursday, April 4, 2024. The IPO is scheduled to be listed on NSE SME, with a tentative listing date set for Monday, April 8, 2024.

Expert Global Consultants Private Limited is the book running lead manager of the K2 Infragen IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for K2 Infragen IPO is Rikhav Securities.

K2 Infragen IPO GMP today

The shares of K2 Infragen are currently trading at a premium of 35 in the grey market premium (GMP), according to investorgain. 

As per the analyst at investogain, the lowest GMP of K2 Infragen is 5, while the highest GMP is 35. The estimated listing price of the K2 Infragen is likely to be 154, which is 29.41%.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

 

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Published: 01 Apr 2024, 09:49 PM IST
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