Stellar IPO Listing Performance: Kay Cee Energy & Infra shares made a grand entrance into the stock market on Friday, January 5. Listed on NSE SME at Rs 252, a staggering 366.67% above its issue price of Rs 54.
Investors Reap Bumper Profits:
Investors who participated in KC Energy’s IPO witnessed a profit surge of over 4.5 times on their initial investment. The seventh company this year to be listed in the stock market through the SME route.
Record-breaking Subscription Numbers:
- KC Energy & Infra’s IPO, open for bidding from December 28 to January 2, achieved an unprecedented oversubscription of 1,052.45 times.
- This marked the highest subscription ever recorded for any SME IPO.
Gray Market Expectations vs. Actual Listing:
- In the gray market, the share was trading at a premium of Rs 82 (about 151% over the issue price), anticipating a listing at Rs 136.
- The actual listing at Rs 252 exceeded expectations, showcasing the immense investor confidence.
Investor Participation Across Categories:
- The IPO received bids for a remarkable 2,06,28,08,000 crore shares against the offering of 21.5 lakh shares.
- Retail investors demonstrated significant enthusiasm, subscribing 1,311.10 times, while qualified institutional buyers and non-institutional buyers subscribed 127.71 times and 1,668.97 times, respectively.
About Kay Cee Energy & Infra:
- Engaged in providing construction services for electricity transmission and distribution systems.
- Holds an impressive order book value of Rs 549.9 crore as of September 2023, comprising 15 projects.
- Collaborative ventures with industry leaders such as Sterlite Power Transmission and Jost Engineering for large-scale project bidding and execution.