Kay Cee Energy & Infra Limited witnessed a remarkable debut on the NSE SME platform, with its share price opening at ₹252 per share, reflecting an impressive surge of 366.67% compared to the issue price of ₹54. The IPO subscription, which took place from December 28 to January 2, received an overwhelming response.
Key details of Kay Cee Energy & Infra Limited IPO:
– **Issue Price:** The IPO was priced in the range of ₹51 to ₹54 per share.
– **Lot Size:** Investors could bid for a minimum of 2,000 shares, and multiples thereof constituted the lot size.
– **Subscription Status:** The IPO subscription status was exceptionally high, reaching 1,052.45 times on the fourth day. Retail investors showed significant interest, with their portion subscribed 1,311.10 times, and non-institutional buyers subscribing 1,668.97 times. Qualified Institutions buyers subscribed 127.71 times.
– **Total Bids:** The company received bids for 2,06,28,08,000 shares against the 19,60,000 shares on offer.
– **Listing Premium:** In the grey market, the Grey Market Premium (GMP) for Kay Cee Energy IPO was +90, suggesting a premium of ₹90. This implied that Kay Cee Energy & Infra shares were trading at a premium in the unofficial market.
– **Use of Proceeds:** The IPO, valued at ₹15.93 crore, was entirely a fresh issue of 2,950,000 equity shares with no offer for sale (OFS) component. The net proceeds from the offering were planned for general corporate purposes and financing the company’s working capital needs.
– **Registrar and Lead Manager:** Bigshare Services Pvt Ltd served as the registrar for the IPO, while GYR Capital Advisors Private Limited acted as the book running lead manager. Giriraj Stock Broking functioned as the market maker for the IPO.
Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price for Kay Cee Energy & Infra shares was around ₹144 per share, indicating a substantial increase of 166.67% over the IPO price of ₹54. The ‘grey market premium’ serves as an indicator of investors’ willingness to pay more than the issue price for the company’s shares. The strong listing performance and the high subscription numbers reflect a robust market reception for Kay Cee Energy & Infra Limited’s IPO.
