Kay Cee Energy IPO subscribed 23 times on first day of bidding. Check GMP, price band and other details
The retail portion of the issue was booked 36 times, followed by NIIs at 22.82 times and the QIB part at 2.23 times.
Kay Cee Energy GMP
In the grey market, the company's shares are trading with a premium of Rs 45 in the unlisted market, nearly 83% higher than the issue price.
Kay Cee Energy IPO price band
The company is offering its shares in the range of Rs 51-54 for the IPO, which is entirely a fresh equity issue of 29.5 lakh shares.
Through the issue, it plans to mop up about 15.9 crore.
Kay Cee Energy IPO structure
About 50% of the offer is reserved for qualified institutional investors, 35% for retail investors and 15% for non-institutional investors.
The net proceeds from the public offer will be used for funding capital requirements and general corporate purposes.
Kay Cee Energy is an engineering, procurement and construction (EPC) company providing specialized services of commissioning EHV Power transmission lines to various government authorities and private entities.
The company undertakes EPC projects for various government entities, including but not limited to Rajasthan Rajya Vidyut Prasaran Nigam Ltd.
Its service portfolio includes handling, erection, testing, and commissioning of equipment and materials for laying of high voltage undercurrent power lines, establishing power distribution network, testing and commissioning of substation, underground cable laying, upgradation and modification of existing power systems, setting up emergency restoration system structures etc.
For the period ended June 2023, the company clocked revenues of Rs 9.55 crore and net profit of Rs 1.2 crore.
The company's shares will get listed on the NSE SME platform.
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