The stock was listed at Rs 252, compared with an issue price of Rs 54.
The public offer of Kay Cee Energy and Infra was subscribed 959 times at close. The company received bids for over 200 crore shares against a partly 29.5 lakh shares on offer. The retail and NII parts of the issue were booked 1,600 times and 1,300 times, respectively. Meanwhile, the QIB portion was subscribed 127 times.
Net proceeds from the public offer will be used for funding capital requirements and general corporate purposes.
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Kay Cee Energy and Infra is an engineering, procurement and construction (EPC) company providing specialized services of commissioning EHV Power transmission lines to various government authorities and private entities.
Its service portfolio includes handling, erection, testing, 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 system, setting up emergency restoration system structures etc.
India is the world’s third-largest producer and second largest user of energy. The installed power capacity in India has increased from 356 GW in Fiscal 2019 to 416 GW in FY23. The same increased by 5% year-on-year in July 2023 to 424 GW.
The company also undertakes turnkey jobs for supply, civil, erection, testing & commissioning of all types of electrical system for government and private entities.
For the period ended June 2023, the company clocked revenues of Rs 9.55 crore and net profit of Rs 1.2 crore.
GYR Capital Advisors acted as the lead manager to the issue and Bigshare Services was the registrar.
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