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K2 Infragen listing: Company’s share price rockets 40.34% on NSE SME debut today
K2 Infragen share price opened at Rs. 167, a whopping surge of 40.34% on the NSE SME platform
K2 Infragen listing: On a day that the BSE Sensex hit an all-time high of 76,658 and Nifty hit a peak of 22,623 courtesy the push received from the good performance of the US markets last Friday, there was good news all around, even in the smaller indices where a flurry of activity was seen around K2 Infragen share price. Much to investors’ delight in the initial public offering (IPO) segment, K2 Infragen listing was extremely positive on the NSE SME platform today.
On debut, K2 Infragen share price opened at Rs. 167, and then surged by 40.34%. To put the the gains further in perspective, know that the issue price was Rs. 119.
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K2 Infragen IPO
The IPO subscription for K2 Infragen opened on March 28 and closed on April 3 with the price band for the IPO ranging from Rs. 111 to Rs. 119 per share, with a face value of ₹10. Investors could bid on lots of 1,200 equity shares at a minimum.
That much was expected from the K2 Infragen issue was clear when the subscription status jumped to 51.47 times on the fourth day.
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About K2 Infragen
Founded in 2015, K2 Infragen Limited operates in engineering, procurement, and construction (EPC). Previously known as K2 Powergen Private Limited, it comprises two divisions: EPC and Trading.
Listed peers mentioned in the red herring prospectus include Markolines Pavement Technologie, W S Industries (India), Udayshivakumar Infra, and Advait Infratech.
K2 Infragen performance
The company saw a significant increase in profit after tax (PAT) between March 31, 2022, and March 31, 2023. In fact it increased by a massive 463.79% while revenue went up by 103.25%
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How the funds will be utilized
The funds raised from the IPO will likely be allocated towards covering operational needs, expanding infrastructure, and supporting overall company objectives. The stated aim is to accelerate expansion plans in the Project Engineering, Power Engineering, and EPC sectors and that too across India.
