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PNN
Mumbai (Maharashtra) [India], March 27: K2 Infragen Limited, a Project Engineering, Power Engineering & EPC company of India, has announced its plan to go public with an Initial Public Offering on Thursday, March 28, 2024. The company is aiming to raise Rs 40.54 Crore on upper price band through this IPO, with shares set to be listed on the NSE Emerge platform. The issue size is Up to 34,06,800 equity shares at face value of Rs 10 each. Equity Share Allocation - QIB Anchor Portion - Up To 9,46,800 Equity Shares - Qualified Institutional Buyers (QIB) other than Anchor Portion - Up To 6,31,200 Equity Shares - Non-Institutional Investors (NII) - Up To 4,74,000 Equity Shares - Retail Individual Investors (RII) - Up To 11,05,200 Equity Shares - Market Maker - Up To 2,49,600 Equity Shares The net proceeds from the IPO will be utilized for Working Capital Requirements, Capital Expenditure, and General Corporate Purposes. The bidding for the Anchor portion will open on Wednesday, March 27, 2024, and the issue will close on Wednesday, April 03, 2024. The Sole Book Running Lead Manager to the Issue is Expert Global Consultants Private Limited. The Registrar to the Issue is Kfin Technologies Limited. Pankaj Sharma, Managing Director of K2 Infragen Limited expressed, "I am glad to announce that K2 Infragen Limited is embarking on an exciting journey by entering the capital market with our SME IPO. K2 Infragen Limited's reputation for excellence and commitment to delivering high-quality projects sets us apart in the industry. With a focus on raising substantial capital, we aim to accelerate our expansion plans and solidify our position in the Project Engineering, Power Engineering, and EPC sectors across India. The allocation of funds towards Working Capital Requirements, Capital Expenditure, and General Corporate Purposes reflects our strategic vision to optimize resources and drive sustainable growth. Our dedicated team remains steadfast in our mission to uphold the highest standards of integrity, sustainability, and performance, ensuring that we continue to create long-term value for our clients and partners." Gaurav Jain, Director of Expert Global Consultants Private Limited said, "We are honoured to be a part of this monumental journey as K2 Infragen Limited prepares to go public. With a stellar track record and an unwavering commitment to excellence, quality, and innovation, K2 Infragen Limited stands as a beacon of success in the Project Engineering, Power Engineering, and EPC sectors. Their proven ability to deliver outstanding results and drive industry standards forward makes them a compelling force in the market. Together, we eagerly anticipate the opportunities that lie ahead as we unlock new avenues for growth and prosperity, wishing K2 Infragen Limited continued success on their journey." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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