K2 Infragen was incorporated on March 5, 2015. The company is an integrated engineering, procurement, and construction firm with a focus on power engineering and project engineering. It has experience in the design and construction of various projects across eight states in India, namely Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Haryana, Gujarat, Punjab, and Delhi.
| Bidding Dates |
|---|
| 28 Mar 2024 - 03 Apr 2024 |
| Subscription |
|---|
| 46.35x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,33,200 | 1 | 1 | 1200 | 3.4 M | ₹111 - ₹119 | 40.36 % | ₹378.2 M - ₹405.4 M | RHP DOC |
K2 Infragen IPO SUBSCRIPTION STATUS
03 Apr '24K2 Infragen IPO overall subscription rate was 46.35 times the total available shares
K2 Infragen IPO retail subscription rate was 52.25 times in the retail segment
K2 Infragen IPO non-institutional investor subscription rate was 147.1 times in the non-institutional investor category
K2 Infragen IPO Qualified Institutional Bidder subscription rate was 11.99 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Apr 2024 (Day 4) | 52.25x | 147.1x | 11.99x |
02 Apr 2024 (Day 3) | 8.88x | 5.5x | 0.44x |
01 Apr 2024 (Day 2) | 2.85x | 1.51x | 0.44x |
28 Mar 2024 (Day 1) | 1.15x | 0.95x | 0.44x |
K2 Infragen FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 60.7 | 593.9 | 23.9 | 5.4 | 17.5% |
| FY23 | 113.2 | 747.9 | -10.3 | -16.3 | 25.8% |
| FY22 | -31.1 | 365.7 | -12.1 | -19.7 | 1.4% |
| FY21 | 2.2 | 354.7 | -30.7 | -77.5 | 7.4% |
K2 Infragen IPO SUBSCRIPTION STATUS DETAILS
K2 Infragen had 3.4 M shares on offer
K2 Infragen IPO offer price was in the range ₹111 - ₹119
K2 Infragen IPO minimum Investment was ₹133200
K2 Infragen IPO issue size was ₹ 378.2 M - ₹ 405.4 M
K2 Infragen had a minimum lot size of 1200 Shares per application
K2 Infragen NUMBER OF SHARES ON OFFER
K2 Infragen IPO IMPORTANT DATES
| Issue Open Date | 28 Mar 2024 |
| Issue close Date | 03 Apr 2024 |
| Allotment Date | 04 Apr 2024 |
| Refund Date | 05 Apr 2024 |
| Demat Account Credit Date | 05 Apr 2024 |
| Listing Date | 08 Apr 2024 |
| Listing on Exchange(s) | NSE |
| K2 Infragen Allotment Status | Exchange |
K2 Infragen IPO subscription opened on 28 Mar 2024, and closed on 03 Apr 2024
IPO allotment for K2 Infragen was finalized on Thursday, 04 Apr 2024
IPO listing for K2 Infragen was on NSE on Monday, 08 Apr 2024
K2 Infragen IPO LISTING GAINS
| Issue Price (adjusted) | 119.0 |
| Listing Open Price | 167.0 |
| Listing Close Price | 173.3 |
| Listing Gain% | 40.3% |
| Current Gain% | -54.8% |
K2 Infragen Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| K2 Infragen Ltd. | 53.8 | 67.8 | 5.1 | 0.3 | 0.4 | 14.8 | 5.8 | 189.5 | 27.4 | 13.3 | 15.2 | 10.5 | 15.2 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
K2 Infragen INFORMATION ON IPO ISSUE
About K2 Infragen
K2 Infragen was incorporated on March 5, 2015. The company is an integrated engineering, procurement, and construction firm with a focus on power engineering and project engineering. It has experience in the design and construction of various projects across eight states in India, namely Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Haryana, Gujarat, Punjab, and Delhi.
Object of the Issue
- Working capital requirement
- Capital expenditure
- General corporate purposes
K2 Infragen - PROMOTERS
| Name |
|---|
| Pankaj Sharma |
| Priya Sharma |
| Rajesh Tiwari |
| Rajiv Khandelwal |
| Sarvajeet Singh |
K2 Infragen Lead Manager to the Issue
Expert Global Consultants Private Limited
ipo@expertglobal.in
K2 Infragen Registrar to the issue
Kfin Technologies Private Limited
k2infragen.ipo@kfintech.com
K2 Infragen Strengths
Focused EPC player
The company has over eight years of experience in executing EPC projects, encompassing building construction, road construction, structural work, civil construction, railway projects, and turnkey water supply projects
Strong order book
As of February 2024, the company's order book comprised projects across the states of Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, and Gujarat, totaling approximately Rs 395.6 crore
In-house integrated model
The company has an equipment base comprising over 13 construction and mining machinery units and 25 vehicles. This allows it to be less dependent on third-party equipment providers and efficiently manage project execution schedules
K2 Infragen Risks
Limited number of customers
The company derives a significant portion of its revenues from a limited number of clients. Consequently, the loss of any significant clients may have an adverse effect on the business
Incurred debts
The company has incurred borrowings from commercial banks, resulting in a high Debt Equity Ratio. This situation could potentially have an adverse effect on the business
Negative cash flows
The company has experienced negative cash flows in the past, and it is possible that it may continue to experience negative cash flows in the future
IPO FAQs
The promoters of the company are Pankaj Sharma, Priya Sharma, Rajesh Tiwari, Rajiv Khandelwal and Sarvajeet Singh.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 111.0 - 119.0.
The IPO application opens on Mar 28, 2024 and closes on Apr 03, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 133,200.0, the maximum value for this IPO is Rs 142,800.0.
This IPO will be allotted on Apr 04, 2024.
The refund will be credited to your account on Apr 05, 2024.
The allotted shares will be credited to your demat on Apr 05, 2024.
K2 Infragen Ltd.’s shares listed on the stock exchanges on Apr 08, 2024.