K2 Infragen IPO Allotment Status

Building blocks of the K2 Infragen IPO

K2 Infragen IPO, amounting to Rs 40.54 crores, comprises solely a fresh issue of 34.07 lakh shares. K2 Infragen IPO commenced subscription on March 28, 2024, and concludes today, April 3, 2024. The allotment for the K2 Infragen IPO is anticipated to be finalized on Thursday, April 4, 2024. Following this, K2 Infragen IPO is slated to list on NSE SME with a tentative listing date set for Monday, April 8, 2024.

K2 Infragen IPO’s price band for ranges from ₹111 to ₹119 per share. Retail investors are required to apply for a minimum lot size of 1200 shares, equating to an investment of ₹142,800. For HNI investors, the minimum lot size is 2 lots (2,400 shares), amounting to ₹285,600. K2 Infragen IPO has expert Global Consultants Private Limited as their book running lead manager of, while Kfin Technologies Limited is the registrar for the issue. The market maker for K2 Infragen IPO is Rikhav Securities.

How to check allotment status of K2 Infragen IPO?

Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Kfin Technologies Limited. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status on the website of the IPO registrar, Kfin Technologies Limited. The same can typically checked once the basis of allotment is finalized in this case, which will be late on April 4, 2024.

Checking the allotment status on Kfin Technologies Limited (Registrar to IPO)

Visit the Kfin Technologies Limited registrar website for checking the IPO allotment status by clicking on the link below:

https://kosmic.kfintech.com/ipostatus/

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Kfin Technologies Limited by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Kfin Technologies Limited the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Kfin Technologies Limited offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on April 4, 2024, so the investors would be able to access the online allotment status facility, either late on April 4, 2024 or by the middle of April 4, 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on April 5, 2024 or later. It would appear on the demat account with ISIN Number.

How Allocation Quota and Subscription impact Basis of Allotment?

Here is a quick look at how the allocation was made across different categories of investors in the IPO of K2 Infragen Ltd at the close of the IPO on April 3, 2024.

Data Source: NSE

The subscription status of the K2 Infragen IPO reflects overwhelming investor interest and robust demand across all investor categories.

The IPO was oversubscribed by a remarkable 51.47 times, indicating strong investor confidence and anticipation for the company's offerings. Retail investors showed significant interest, subscribing 38.91 times their allocated shares, demonstrating retail investors' trust and enthusiasm in the IPO. Qualified Institutional Buyers (QIBs) also displayed substantial participation, with the segment being oversubscribed by 23.37 times, indicating institutional investors' confidence in the company's prospects. The Non-Institutional Buyers (NII) category witnessed exceptional oversubscription, with a subscription rate of 113.98 times, reflecting high demand from high net-worth individuals and other non-institutional investors.

Overall, the K2 Infragen IPO garnered immense investor interest and strong demand, with oversubscription across all investor categories, signaling a successful and well-received public offering.

Here is final subscription status of K2 Infragen IPO as at close on April 3, 2024.

To sum it up, the subscription is quite modest, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of K2 Infragen Ltd

With the IPO of K2 Infragen Ltd closed for subscription at the end of April 3, 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on April 4, 2024 while the refunds would be initiated on April 5, 2024. The shares of K2 Infragen Ltd would be credited to the demat accounts of eligible shareholders by the close of April 5, 2024 while the stock of K2 Infragen Ltd is expected to be listed on April 8, 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.