February 22, 2024

Kay Cee Power & Infra to debut on NSE Emerge on January 5

Kota-based EPC firm Kay Cee Power & Infra is ready to listing its fairness shares on the NSE Emerge on January 5. This would be the seventh SME debut within the present calendar 12 months.

The itemizing expectations have skyrocketed after the sturdy subscription obtained by the IPO. The general public concern was oversubscribed by 959.5 occasions throughout December 28-January 2, the best ever subscription numbers obtained by the SME.

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Excessive networth people (HNIs or non-institutional traders) had been on the main place, choosing 1,700 occasions the allotted quota, adopted by retail traders who purchased round 1,330 occasions the portion put aside for them

Certified institutional consumers (QIBs) additionally confirmed wholesome curiosity within the IPO, bidding greater than 120 occasions the reserved portion.

Given the sturdy subscription knowledge, its IPO shares had been accessible at 110-120 p.c premium over the higher worth band within the gray market, analysts on anonymity mentioned.

Additionally learn: Sanstar recordsdata papers with SEBI to boost funds by way of IPO

Specialists say the gray market isn’t a real indication for any IPO itemizing because it covers solely sentiment and momentum and doesn’t seize fundamentals of the corporate. It’s unofficial platform for buying and selling in IPO shares until the itemizing, whereas typically, the individuals take a look at this unofficial market to know the potential itemizing worth, which can be or might not be right.

The engineering, procurement and building (EPC) firm has raised Rs 15.93 crore by way of its maiden public concern of 29.50 lakh shares which consisted of solely contemporary concern.

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Story continues beneath Commercial

The contemporary concern cash will probably be primarily used for working capital necessities amounting to Rs 13 crore, and the remainder of concern proceeds will probably be utilised for normal company functions & IPO bills.

Additionally learn: Jyoti CNC Automation units Rs 315-331 worth band for Rs 1,000-cr IPO opening Jan 9

The value band for the e-book constructing concern was at Rs 54-54 per fairness share.

Kay Cee Power & Infra that gives specialised providers of building and commissioning of energy transmission and distribution methods has 15 initiatives in hand with a complete order e-book worth of Rs 549.9 crore as of September 2023. Nearly all of initiatives are from public sector models and state authorities companies, which contributed 77 p.c to income from operations in FY23.