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

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.

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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

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