K2 Infragen Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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K2 Infragen

CMP

239.90

+21.80 (10.00%)

  • DRHP
₹119

Offer Price

₹ 40.54 Cr

Issue Size

₹ 1,42,800

Min Investment

1,200

Lot size

Time Line

  • 28
    Mar 2024
    Open
  • 03
    Apr 2024
    Close
  • 04
    Apr 2024
    Finalisation of Basis of Allotment
  • 05
    Apr 2024
    Initiation of Refunds
  • 05
    Apr 2024
    Transfer of Shares to Demat Account
  • 08
    Apr 2024
    Listing Date

Objects of the Offer

  • Continued focus on its EPC business.

  • Geographical diversification.

  • Enhance attractiveness through quality execution, cost reduction and continuous training of manpower.

  • Consolidate internal systems and continued focus on IT.

  • Financial discipline coupled with strategy to acquire assets.

Products & Services

  • K2 Infragen Ltd is an integrated engineering, procurement and construction ("EPC") with a focus on Power Engineering and Project Engineering.

Strengths

  • Experienced Promoters having deep domain knowledge to scale up the business.

  • Diversified Clientele.

  • Management team having established track record.

  • Established track record of successfully completed projects.

  • In-house integrated model.

Risks

  • Lack of Challan Record in Connection with Form Filed with the Registrar of Companies.

  • Discrepancies observed in allotment dated March 29, 2016, July 18, 2016, July 30, 2016, August 3, 2016, August 16, 2016, March 26, 2017, January 20, 2019, February 14, 2019, April 27, 2019, and March 27, 2021, August 30, 2021, December 6, 2021, December 27, 2021, February 22, 2022, October 31, 2022, and December 22, 2022.

  • The company business is concentrated in the state of Uttar Pradesh. As of June 30, 2023, revenue from Uttar Pradesh constitute Rs. 2,053.40 Lakhs i.e. 94% of the company is revenue for the said period. Any adverse impact in this region may adversely affect its business, results of operations and financial condition.

  • The company derives a significant portion of it revenues from a limited number of clients. The loss of any significant clients may have an adverse effect on the company`s business, financial condition, results of operations, and prospect.

  • The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect the company`s business operations.

Company Promoters

Promoters Holding

Issue For IPO
14.93%
Pre Holding

55.29%

Post Holding

40.36%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 36.57 (3.10%) 74.79 (104.50%) 81.32 (-)
Gross Profit 36.57 (3.10%) 74.79 (104.50%) 81.32 (-)
Net Income 36.57 (3.10%) 74.79 (104.50%) 81.32 (-)
Assets 36.57 (3.10%) 74.79 (104.50%) 81.32 (-)
Liabilities 36.57 (3.10%) 74.79 (104.50%) 81.32 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
K2 Infragen Ltd 66.55 11.28 38.25 24.30 81.32 0.00 62.17 2.38 0.63
Markolines Pavement Technologies Ltd 311.80 15.75 187.99 187.99 18.34 8.24 44.91 8.37 0.36
W S Industries (India) Ltd 79.67 19.64 239.03 239.03 43.73 5.59 10.74 8.21 1.43
Udayshivakumar Infra Ltd 286.90 16.05 284.64 284.64 11.12 4.37 26.05 5.63 0.31
Advait Infratech Ltd 102.65 8.12 115.18 115.18 18.95 12.67 42.01 7.05 0.28

Book Running Managers

  • Expert Global Consultants Pvt Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

801 A B & 802 A B C 8th Floor,
Welldone Techpark Sohna Road,
Gurugram - 122018
Phone : +91 124 4896 700 Email : cs@k2infra.com www.k2infra.com

Offer Related Information

Initial public issue of upto 34,06,800 equity shares of face value of Rs. 10/- each of K2 Infragen Limited (the "Company" or the "Issuer") for cash at a price of Rs. 119 per equity share including a share premium of Rs. 109 per share (the "Issue Price") aggregating to Rs. 40.54 ("The Issue"), of which up to 2,49,600 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 119 per equity share including a share premium of 109 per equity share aggregating to Rs. 2.97 is... More

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