Unlisted shares of K2 Infragen Ltd are trading Rs 32 higher in the grey market, expecting a 26.89 per cent listing gain from the public issue
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K2 Infragen IPO: The initial public offering of K2 Infragen Ltd, which was opened for public subscription on March 28, has received a decent response from investors. Till 11:45 am on the fourth day of bidding on Wednesday, the Rs 40.54-crore SME IPO received 7.41 times subscription, garnering bids for 1,63,70,400 shares against 22,10,400 shares on offer.
The category for non-institutional investors got subscribed 6.62 times while the portion for Retail Individual Investors (RIIs) attracted 11.25 times subscriptions. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1.28 times.
K2 Infragen IPO GMP Today
According to market observers, unlisted shares of K2 Infragen Ltd are trading Rs 32 higher in the grey market as compared with its issue price of Rs 119. The Rs 32 grey market premium or GMP means the grey market is expecting a 26.89 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
K2 Infragen IPO Details
K2 Infragen IPO is entirely a fresh issue of 34.07 lakh shares. The IPO will close today, April 3, and the share allotment is expected to be finalised on Thursday, April 4. K2 Infragen IPO will list on NSE SME with tentative listing date fixed as Monday, April 8, 2024.
The price band has been fixed at Rs 111 to Rs 119 per share. The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,42,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,85,600.
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 Limited was established in 2015 and is an engineering, procurement and construction (EPC) company. The company was previously known as K2 Powergen Private Limited.
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Its revenue rose 103.25 per cent and profit after tax (PAT) jumped 463.79 per cent during the financial year 2022-23.
