Kay Cee Power & Infra IPO contains solely a contemporary situation of 29.5 lakh shares
Kay Cee Power & Infra IPO obtained a powerful response from traders on January 2, getting subscribed 591 instances on the ultimate day of bidding. The members purchased 127 crore shares in opposition to the supply measurement of 21.5 lakh shares. Retail traders and high-networth people have been on the forefront, shopping for 919 instances the allotted quota and 842 instances the portion put aside for them. Certified institutional patrons picked 28 instances the reserved portion.
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The Rajasthan-based engineering, procurement, and development (EPC) firm has reserved half of the online situation measurement for QIBs, 15 % for HNIs, and the remaining 35 % for retail traders.
The corporate plans to lift Rs 15.93 crore by an preliminary public providing on the higher worth band. The IPO contains solely a contemporary situation of 29.5 lakh shares. The worth band for the supply, which opened on December 28, has been mounted at Rs 51-54 per share.
The corporate will use the online proceeds for working capital necessities price Rs 13 crore and the remaining for normal company functions.
A day earlier than the IPO, Kay Cee Power, which supplies specialised companies of development and commissioning of energy transmission and distribution programs, mopped up Rs 4.32 crore from anchor traders on the higher worth band on December 27. Ativir Various Funding Fund picked Rs 3.31 crore price of shares in Kay Cee and the remaining shares price Rs 1 crore have been purchased by Finavenue Capital Belief Finavenue Development Fund.
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As of September 2023, Kay Cee Power has 15 initiatives in hand with a complete order e book worth of Rs 549.9 crore. Along with independently endeavor initiatives, the corporate has additionally entered right into a collaboration with different engineering firms similar to Sterlite Energy Transmission and Jost Engineering to collectively bid and execute bigger initiatives.
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As of September 2023, it has obtained three initiatives price Rs 362.96 crore from Rajasthan Rajya Vidyut Prasaran Nigam. The corporate will execute these initiatives in collaboration with Jost’s Engineering Firm.
