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Business News/ Markets / Ipo/  Kay Cee Energy & Infra Limited IPO opens next week, price band set at 51-54 apiece

Kay Cee Energy & Infra Limited IPO opens next week, price band set at ₹51-54 apiece

  • Kay Cee Energy & Infra Limited IPO has a lot size of 2,000 shares and investors can bid for a minimum of 2,000 shares. The allocation to anchor investors is scheduled for December 27.

Kay Cee Energy & Infra IPO price band is set in the range of 51 to 54.

Kay Cee Energy & Infra Limited IPO will open for subscription on Thursday, December 28, and will close on Tuesday, January 2. Kay Cee Energy & Infra IPO price band is set in the range of 51 to 54. Kay Cee Energy & Infra IPO lot size consists of 2,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

The floor price is 5.1 times of the face value of 10 and the cap price is 5.4 times of the face value of the equity shares. The price/earnings ratio based on diluted EPS for year ended March 2023 for the company at the upper end of the price band is 7.59.

The allocation to anchor investors for Kay Cee Energy & Infra Limited IPO is scheduled to take place Wednesday, December 27.

Also Read: Sahara Maritime IPO allotment finalised; here are steps to check status on BSE, registrar's website

Kay Cee Energy & Infra IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. The market maker portion consists of up to 1,90,000 equity shares or 6.44% of the issue.

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Kay Cee Energy and Infra Limited offers services for building and commissioning power transmission and distribution networks. Engineering, procurement, and construction (EPC) projects are handled by the company for government organisations like Rajasthan Rajya Vidyut Prasaran Nigam Limited ("RRVPNL").

Between the fiscal year ending on March 31, 2023, and March 31, 2022, Kay Cee Energy & Infra Limited’s revenue grew by 22.33% and profit after tax (PAT) increased by 77.62%.

As per the Red herring prospectus (RHP), the company's listed peers are Viviana Power Tech Limited (with a P/E of 24.17), and Kec International Limited (with a P/E of 96.93).

Kay Cee Energy & Infra Limited IPO details

Kay Cee Energy & Infra Limited IPO, which is worth 15.93 crore, is completely a fresh issue of 2,950,000 equity share; there is no offer for sale (OFS) component, according to RHP.

The company intends to use the net proceeds of the offering for the following goals: general corporate purposes and financing the company's working capital needs.

The registrar for the Kay Cee Energy & Infra IPO is Bigshare Services Pvt Ltd, and the book running lead manager is GYR Capital Advisors Private Limited. Giriraj Stock Broking is the market maker for the Kay Cee Energy & Infra IPO.

Tentatively, Kay Cee Energy & Infra Limited IPO basis of allotment of shares will be finalised on Wednesday, January 3 and the company will initiate refunds on the same day itself, while the shares will be credited to the demat account of allottees on Thursday, January 4. Kay Cee Energy & Infra shares are likely to be listed on NSE SME Friday, January 5.

Also Read: RBZ Jewellers allotment to be finalised soon: how to check status, GMP details

Kay Cee Energy & Infra Limited IPO GMP

Kay Cee Energy & Infra Limited IPO GMP or grey market premium is +30. This indicates Kay Cee Energy & Infra share price were trading at a premium of 30 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kay Cee Energy & Infra share price is 84 apiece, which is 55.56% higher than the IPO price of 54.

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

Also Read: AIK Pipes IPO: Price band set at 89 per share; issue opens on December 26

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.

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