K2 Infragen IPO: SME edition on day 2 subscribed 1.44 times, check GMP and other important details

The IPO of engineering, procurement and construction company K2 Infragen opened for subscription on March 28. The public issue of small and medium enterprises (SMEs) 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 right through to project commissioning. Our portfolio covers a wide range of projects including water supply, railway infrastructure, road construction and civil engineering.

K2 Infragen's IPO includes 3,406,800 shares. Of these, 631,200 shares (18.53%) are to qualified institutional buyers (QIB), 474,000 shares (13.91%) to non-institutional investors (NII), 1,105,200 shares (32.44%) to retail investors (RII) and 946,800 shares Allotted shares (27.79%) are intended for anchor investors.

K2 Inquires IPO Subscription Status

K2 Infragen's IPO was subscribed over 1.44 times on the second day of bidding. The SME IPO received 35,47,200 share applications against 24,60,000 shares offered.

The retail portion received 24,50,400 shares while the QIB and NII categories received 5,40,000 and 5,56,800 applications respectively.

K2 Questions IPO details

The tender for the IPO of K2 Infragen began on March 28, 2024 and is expected to close on April 3, 2024.

The SME issue price range has been set at ₹111 to ₹119 per share. Investors can bid for at least 1200 shares and multiples thereof. The minimum investment amount required by private investors is ₹142,800.

The IPO of K2 Infragen is a book edition by ₹40.54 crores and is a pure fresh issue of shares worth 34.07 lakh.

The allotment for the IPO of K2 Infragen is expected to take place on Thursday, April 4, 2024. The IPO is expected to be listed on the NSE SME, with the provisional listing date being Monday, April 8, 2024.

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

K2 questions IPO GMP today

K2 Infragen shares are currently trading at a premium of ₹32 in the gray market premium (GMP), according to Investorgain.

According to investogain analyst, the lowest GMP of K2 is Infragen ₹5, while the highest is GMP ₹32. The estimated list price of the K2 Infragen is likely to be ₹151, i.e. 26.89%.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

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