IPO Details

Bidding Dates

28 Mar '24 - 03 Apr '24

Minimum Investment

₹ 1,42,800 / 1 Lot ( 1200 Shares )

Price Range

₹111 - ₹119

Maximum Investment

₹ 1,42,800 / 1 Lot ( 1200 Shares )

Retail Discount

To be announced

Issue Size

₹40.54 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Mar 28, 2024

Closing Date

Apr 3, 2024

Basis of Allotment

Apr 4, 2024

Initiation of Refunds

Apr 5, 2024

Credit of Shares to Demat

Apr 5, 2024

Listing Date

Apr 8, 2024

Cut-off time for UPI mandate confirmation

Apr 3, 2024

About K2 Infragen Ltd

Established in 2015, K2 Infragen Ltd is a comprehensive engineering, procurement, and construction (EPC) entity, specialising in Power Engineering and Project Engineering. The firm boasts a rich portfolio of designing and building diverse projects across eight states in India, including Uttar Pradesh, Rajasthan, Madhya Pradesh, Karnataka, Haryana, Gujarat, Punjab, and Delhi.

They offer a wide range of services that cover the entire project lifecycle, such as design, procurement, overseeing construction, managing subcontractors and work orders, as well as post-construction activities, catering to their clients' needs.

K2 Infragen Ltd is recognised for its commitment to quality, environmental stewardship, and occupational health and safety, holding ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 certifications awarded by Globus Certifications Private Limited. The company is also acknowledged for its capacity as a contractor through various certifications with departments and agencies.

Notably, it holds Class AA registration with the Public Works Department in Rajasthan and Madhya Pradesh, Bhopal. This accreditation empowers K2 Infragen Ltd to engage in and execute projects tendered by numerous departments and agencies.

As of February 29, 2024, the company has completed 48 projects amounting to ₹42,606.33 lakhs.

Industry Outlook

  1. With a 33% increase in infrastructure investment to ₹10 lakh crore, reflecting 3.3% of GDP, and a record ₹2.40 lakh crore for Railways, the sector anticipates strong growth and improved connectivity.
  2. The expansion of the NIP to 9,142 projects, especially with ₹1.9 trillion in transportation, signals extensive infrastructure advancements and economic opportunities.

K2 Infragen Ltd IPO Details

K2 Infragen Ltd IPO Dates

K2 Infragen IPO is open from March 28, 2024 to April 3, 2024. The IPO will be listed on NSE Emerge.

K2 Infragen Ltd IPO Price Band

K2 Infragen is a book-built issue. The price band is set at ₹111 to ₹119 per share.

K2 Infragen Ltd IPO Lot Size

The lot size for K2 Infragen Limited’s IPO is 1,200 shares with a minimum investment of ₹1,42,800.

K2 Infragen Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Raise ₹1,600 lacs for working capital requirements, allocating ₹250 lacs in Fiscal 2024 and ₹1,350 lacs in Fiscal 2025.
  2. Secure ₹831 lacs for capital expenditure entirely in Fiscal 2025.
  3. Fund general corporate purposes; details are pending for specific allocation amounts.

Peer Details

The following are the listed peers of K2 Infragen:

  1. Markolines Pavement Technologies Ltd
  2. W S Industries (India) Ltd
  3. Udayshivakumar Infra Ltd
  4. Advait Infratech Ltd

How To Check the Allotment Status of the K2 Infragen Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of K2 Infragen Ltd

Registered office: 801 A, B & 802 A, B, C, 8th Floor, Welldone Techpark, Sohna Road, Gurugram, Haryana – 122 018, India.

Phone: +91 124 4896700

E-mail: cs@k2infra.com

IPO Financials

Particulars For the period Ended on September 30, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income (in ₹ lakh) 5,967.98 7,490.08 3,685.20 3,568.05
EBITDA Margin (%) 17.51% 25.76% 1.40% 7.40%
Profit After Tax (PAT) (in ₹ lakh) 607.45 1,132.32 (311.26) 22.49
PAT Margin (%) 10.23% 15.14% -8.51% 0.63%
Cash & Cash Equivalents (in ₹ lakh) 65.81 44.36 102.38 19.25
Debt to Equity Ratio(x) 0.87 1.71 15.40 15.87
Return on Net Worth (%) 23.96% 81.32% -232.56% 19.48%
Return on Capital Employed (RoCE) (%) 19.91% 46.22% -4.98% 8.41%
Earning Per Share (EPS)-in absolute ₹ 6.83 18.04 -6.04 0.69

Know before investing

Strengths

3

  1. Strong order book with projects worth approximately ₹39,560.41 lacs across five states, showcasing a robust pipeline and expertise in winning and managing diverse EPC projects.

  2. Proven track record of timely execution, supported by over eight years of management experience, showcasing capability in project management, efficient manpower, and equipment use.

  3. Integrated in-house model with a significant investment in assets, including 13 construction and mining machines and 25 vehicles, totalling a gross block value of ₹1,345.85 lacs, reducing dependency on external suppliers.

Risks

3

  1. The company faces risks from discrepancies in allotments over multiple dates, affecting transparency and inviting regulatory scrutiny, potentially impacting shareholder accuracy and compliance with the Companies Act, 2013.

  2. Over-reliance on Uttar Pradesh for revenue, with ₹5,808.82 lakhs constituting 97.81% of income as of September 30, 2023, means regional disruptions could significantly affect operations and financial health.

  3. High customer concentration risk, with top ten clients contributing up to 99.94% of sales by September 30, 2023, poses a threat to revenue stability if any significant client is lost.

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K2 Infragen Ltd IPO FAQs

What is K2 Infragen Ltd's IPO?

K2 Infragen IPO is a book-built IPO. The IPO will be open from March 28, 2024 to April 3, 2024.

When will K2 Infragen Ltd's IPO be allotted?

The Basis of Allotment will happen on Monday, April 4, 2024.

When will K2 Infragen Ltd's IPO open for subscription?

The IPO subscription window will open on March 28, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1200 shares.

When will K2 Infragen Ltd list on exchanges?

The listing date for K2 Infragen is Friday, April 8, 2024.

What would be the listing gains on the K2 Infragen Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the K2 Infragen Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for K2 Infragen Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of K2 Infragen Ltd using one PAN?

You can submit only one application using your PAN card.