K2 Infragen IPO: SME issue subscribed 1.44 times so far, check details here
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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 1.44 times on the second 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 1.44 times on the second day of bidding. The SME IPO received 35,47,200 share applications against offered 24,60,000 shares.
The retail portion received 24,50,400 shares, while QIB and NII categories received 5,40,000 and 5,56,800 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 ₹32 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 ₹32. The estimated listing price of the K2 Infragen is likely to be ₹151, which is 26.89%.
‘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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