The new year may have started with a decline for the stock market, but the investors in the market are still earning huge profits. Last year, many IPOs made huge profits for the investors and after that in the new year, a small power stock has not let the trend break. This stock has performed so well in the last few days since its IPO that many new histories have been created in the market in one go.
IPO of less than Rs 16 crore
< p>We are talking about power stock KC Energy and Infra Limited. This company had recently presented its IPO. The company’s IPO opened on December 28 and remained open for bidding till January 2. This IPO of just Rs 15.93 crore was immediately accepted by the investors and received record-breaking subscription in every category.
IPO made this record
KC Energy IPO was opened to qualified institutional investors. The category was subscribed 127.71 times. Retail investors had given a huge subscription of 1,311.10 times to this IPO. Whereas in the category of non-institutional investors, this IPO was subscribed 1,668.97 times. The overall IPO was subscribed 1,311.10 times. This means that for every share offered in the IPO, more than 13 hundred bids were received.
Listing of shares took place with such a bang
After the closing of the IPO today on 5th January. KC Energy & Infra shares were listed. Its listing was also as explosive as the IPO. Its shares were listed on the NSE SME platform at a price of Rs 252, while the price band of the IPO was Rs 51 to 54. In this way, the IPO made its investors earn almost 5 times as soon as it was listed.
The premium was this much in the gray market
After the IPO, the shares of KC Energy & Infra Limited were at a fantastic price of Rs 366.66. Listed with percentage premium. Earlier, there were indications of bumper listing in the gray market. Before being officially listed on the market in the morning, KC Energy’s shares were at a premium of 160 percent in the unofficial market i.e. gray market. The listing has been done at a level more than double the GMP.
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