Kay Cee Energy & Infra shares debuted on the NSE SME platform at a stellar premium of 366.67%, listing at Rs 252 apiece against the issue price of Rs 54. The price band for the offer was fixed at Rs 51-54 per share. 

Before the listing, the stock was trading at a grey market premium (GMP) of 160% or Rs 90 in the unlisted market. The newly listed stock closed 343.33% higher than its issue price at Rs 239.40. 

The Rs 15.93 crore small and medium-sized enterprise IPO was open for subscription from December 28 to January 2 and was subscribed a massive 1,052 times. Kay Cee Energy received bids for over 200 crore shares against a fresh issue of 19,60,000 shares.

The quota reserve for retail investors was subscribed 1,311 times, while qualified institutional bidders (QIBs) subscribed 127 times. The portion reserved for non-institutional investors (NIIs) was booked 1,688 times.

The company intends to utilise the net proceeds of the offering worth up to Rs 13 crore for working capital requirements, and the remaining funds will be used for general corporate purposes. 

The registrar for the Kay Cee Energy & Infra SME IPO was Bigshare Services, while GYR Capital Advisors acted as the book-running lead manager. Giriraj Stock Broking was the market-maker for the issue.