K2 Infragen stock debuts with 40% premium on NSE SME platform

The IPO, which was completely a fresh equity issue of 34.06 lakh shares, received decent response from investors with an overall subscription of 50 times at close.

The net proceeds from the public offer will be used for meeting working capital requirements, acquisition of plant and machinery and other general corporate purposes.

K2 Infragen is an integrated engineering, procurement and construction (EPC) with a focus on power engineering and project engineering having experience in design and construction of various projects across eight states in India.

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The company provides services across the value chain, ranging from design, procurement, construction supervision, subcontract management and work order management to post-construction activities to the clients.

It has also been accredited with various registrations as a contractor with various departments and agencies viz public works departments of Rajasthan, Madhya Pradesh and Bhopal, pursuant to which the company is also eligible to participate and undertake projects awarded by various other departments and agencies.

The company has in-house capabilities to deliver a project from conceptualization to completion with faster turnaround time and focus on de-risking wherever possible. Its core competence lies in professionally managing the value chain and attracting and retaining talent to maximize value creation.

For the period ended September 2023, the company clocked revenues of Rs 59.4 crore and net profit of Rs 6.11 crore.

Expert Global Consultants acted as the lead manager to the issue and Kfin Technologies was the registrar.