K2 Infragen makes bumper debut, lists at 40% premium on NSE SME

The company plans to utilize the net proceeds from the issue for working capital requirements, capital expenditure, and general corporate purposes.

Shares of K2 Infragen listing at Rs 167 on the NSE SME platform on April 8, a premium of Rs 48, or 40 percent, over the issue price of Rs 119.

The listing gains, however, fell short of the grey market premium where the shares were trading at a premium of Rs 63.

The Rs 40.54-crore public offer was subscribed more than 46.35 times. The issue received 11,40,14,400 share applications against the offered 24,60,000 shares.

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Established in 2015, K2 Infragen is an engineering, procurement, and construction (EPC) firm. The company has two divisions. The EPC segment handles contract-based projects, including planning, material procurement, and execution across various sectors like water supply, railroads, roads, and civil construction.

It also operates a trading business, which involves procuring and trading non-ferrous metals through auction procedures in the open market.

The company plans to use the proceeds from the issue to meet working capital requirements, capital expenditure, and for general corporate purposes.

The price band of the issue was fixed at Rs 111-119. Expert Global Consultants Private Limited was the book running lead manager of the K2 Infragen IPO, while Kfin Technologies Limited was the registrar.

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