Active Stocks
Wed May 29 2024 15:50:35
  1. State Bank Of India share price
  2. 822.95 -0.96%
  1. Tata Steel share price
  2. 174.20 -0.37%
  1. HDFC Bank share price
  2. 1,507.85 -1.48%
  1. Power Grid Corporation Of India share price
  2. 317.55 1.52%
  1. ITC share price
  2. 430.80 0.44%
Business News/ Markets / Ipo/  K2 Infragen share price makes a stellar debut, stock opens with 40% premium at 167 apiece on NSE SME
BackBack

K2 Infragen share price makes a stellar debut, stock opens with 40% premium at ₹167 apiece on NSE SME

K2 Infragen share price opened at ₹167, which is 40.34% higher than the issue price of ₹119 on NSE SME.

K2 Infragen share price debuts on NSE SME today. Premium
K2 Infragen share price debuts on NSE SME today.

K2 Infragen share price made a stellar debut on NSE SME today. On NSE SME, K2 Infragen share price opened at 167, which is 40.34% higher than the issue price of 119.

K2 Infragen IPO opened for subscription on Thursday, March 28, and closed on Wednesday, April 3. The price band for the issue was set in the range of 111 to 119 apiece, with a face value of 10. The K2 Infragen IPO lot size consisted of 1,200 equity shares that investors could place bids on at minimum. K2 Infragen IPO subscription status was 51.47 times, on day 4.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Also Read: K2 Infragen IPO allotment to be finalised today; steps to check allotment status, latest GMP

Founded in 2015, K2 Infragen Limited is an engineering, procurement, and construction (EPC) firm. K2 Powergen Private Limited was the previous name of the business. EPC and Trading are the two divisions that make up the company's structure.

As per the red herring prospectus (RHP), the company's listed peers are Markolines Pavement Technologies Ltd (with a P/E of 12.68), W S Industries (India) Ltd (with a P/E of 8.16), Udayshivakumar Infra Ltd, and Advait Infratech Ltd (with a P/E of 17.91).

Between March 31, 2022, and March 31, 2023, K2 Infragen Limited's profit after tax (PAT) climbed by 463.79%, while its revenue increased by 103.25%.

Also Read: K2 Infragen IPO: SME issue subscribed 46.35 times on day 4, check GMP and other key details

K2 Infragen IPO details 

The K2 Infragen IPO, valued at about 40.54 crore, comprises a new issuance of 3,406,800 equity shares, each having a face value of 10. There is no offer-for-sale component.

The net proceeds of the issue will be used by the firm for working capital requirements, capital expenditures, and general corporate purposes.

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

Also Read: K2 Infragen IPO: GMP, subscription status, review, other details of SME IPO in 10 points

K2 Infragen IPO GMP today

K2 Infragen IPO GMP or grey market premium is +63. This indicates K2 Infragen share price were trading at a premium of 63 in the grey market, according to investorgain.com.

An anticipated listing price of 182 per share, or 52.94% higher than the IPO price of 119, was proposed for K2 Infragen shares, taking into account the top end of the IPO pricing band and the existing premium on the grey market.

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

Also Read: Upcoming IPOs: 3 SME public issues and 6 new listings scheduled for primary market this week

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Apr 2024, 10:00 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started