K2 Infragen IPO is a book built issue of Rs 40.54 crores. The issue is entirely a fresh issue of 34.07 lakh shares.
K2 Infragen IPO opens for subscription on March 28, 2024 and closes on April 3, 2024. The allotment for the K2 Infragen IPO is expected to be finalized on Thursday, April 4, 2024. K2 Infragen IPO will list on NSE SME with tentative listing date fixed as Monday, April 8, 2024.
K2 Infragen IPO price band is set at ₹111 to ₹119 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹142,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹285,600.
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.
Refer to K2 Infragen IPO RHP for detailed information.
K2 Infragen IPO Details
| IPO Date | March 28, 2024 to April 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹111 to ₹119 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,406,800 shares (aggregating up to ₹40.54 Cr) |
| Fresh Issue | 3,406,800 shares (aggregating up to ₹40.54 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,211,594 |
| Share holding post issue | 12,618,394 |
| Market Maker portion | 249,600 shares Rikhav Securities |
K2 Infragen IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
K2 Infragen IPO Anchor Investors Details
K2 Infragen IPO raises Rs 11.27 crore from anchor investors. K2 Infragen IPO Anchor bid date is March 27, 2024.
| Bid Date | March 27, 2024 |
| Shares Offered | 946,800 |
| Anchor Portion Size (In Cr.) | 11.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 3, 2024 |
K2 Infragen IPO Timeline (Tentative Schedule)
K2 Infragen IPO opens on March 28, 2024, and closes on April 3, 2024.
| IPO Open Date | Thursday, March 28, 2024 |
| IPO Close Date | Wednesday, April 3, 2024 |
| Basis of Allotment | Thursday, April 4, 2024 |
| Initiation of Refunds | Friday, April 5, 2024 |
| Credit of Shares to Demat | Friday, April 5, 2024 |
| Listing Date | Monday, April 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 3, 2024 |
K2 Infragen IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹142,800 |
| Retail (Max) | 1 | 1200 | ₹142,800 |
| HNI (Min) | 2 | 2,400 | ₹285,600 |
| Lot Size Calculator | |||
K2 Infragen IPO Promoter Holding
The company’s promoters are Mr. Pankaj Sharma, Ms. Priya Sharma, Mr. Rajesh Tiwari, Mr. Rajiv Khandelwal and Mr. Sarvajeet Singh.
| Share Holding Pre Issue | 55.29% |
| Share Holding Post Issue | 40.36% |
About K2 Infragen Limited
K2 Infragen Limited was founded in 2015 and is an engineering, procurement and construction (EPC) company. The company was previously known as K2 Powergen Private Limited.
The company has two divisions:
1. Engineering, Procurement and Construction (EPC): This includes
- Contract business: planning and construction of the project, procurement of key materials and project execution on the construction sites with overall project management through to commissioning of the projects. This includes water supply projects, railroad projects, road construction projects and civil construction work.
- Services business: The EPC services business comprises the structuring and scheduling of projects, personnel planning and logistics to ensure the timely execution and completion of projects. Construction services include engineering, procurement and construction of various projects under build-to-order/build-operate-leasing for the construction of buildings, boundary walls, transmission lines, water projects, etc. This includes planning work, surveying, project management and quality supervision.
2. Trading business: This includes the procurement and trading of materials such as non-ferrous metals on the open market through auction procedures.
As of March 22, 2024, the company had a total of 61 employees.
K2 Infragen Limited Financial Information (Restated Consolidated)
K2 Infragen Limited’s revenue increased by 103.25% and profit after tax (PAT) rose by 463.79% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,378.79 | 5,690.40 | 2,591.14 | 2,220.52 |
| Revenue | 5,967.98 | 7,490.08 | 3,685.20 | 3,568.05 |
| Profit After Tax | 607.45 | 1,132.32 | -311.26 | 22.49 |
| Net Worth | 2,535.32 | 1,392.45 | 133.84 | 115.49 |
| Reserves and Surplus | 1,611.24 | 1,165.10 | -96.26 | -46.56 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of K2 Infragen IPO is Rs 150.16 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 23.96% |
| ROCE | 19.91% |
| Debt/Equity | 0.87 |
| RoNW | 23.9% |
| P/BV | 4.32 |
| PAT Margin (%) | 10.23 |
Check K2 Infragen IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 12.29 | 9.63 |
| P/E (x) | 9.68 | 12.36 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (K2 Infragen IPO Objectives)
The company intends to utilize the Net Proceeds of the Issue to meet the following objects:
- Working capital requirement;
- Capital Expenditure; and
- General corporate purposes.
K2 Infragen IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive segment. After static performance for FY21 and FY22 with a huge loss for the fiscal 21/22, it posted robust performance with bumper profits that not only raise eyebrows, but also concern over its sustainability. Based on FY24 annualized super earnings, the issue appears fully priced. It has order book worth Rs. 395+ cr. as of February 29, 2024. Well-informed investors may park moderate funds for the medium to long term rewards. Read detail review…
K2 Infragen Limited Contact Details
K2 Infragen Limited
801 A, B & 802 A, B, C, 8th Floor,
Welldone Techpark, Sohna Road,
Gurugram – 122 018
Phone: +91 124 4896700
Email: cs@k2infra.com
Website: http://www.k2infra.com/
K2 Infragen IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: k2infragen.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/