Technocraft Ventures IPO is all set to make its stock market debut on Friday, 14 August. The shares of Technocraft Ventures will be listed on both BSE and NSE.
The public issue received a strong response from investors, with the IPO being subscribed 38.69 times overall. The Qualified Institutional Buyers (QIB) category was subscribed 42.26 times, while the Non-Institutional Investors (NII) portion witnessed the highest subscription at 65.06 times. The retail investor portion was subscribed 25.35 times.
Technocraft Ventures IPO GMP today
Technocraft Ventures IPO GMP indicates a strong listing on Friday. The GMP today stands at ₹37. Based on the upper end of the IPO price band and the prevailing grey market premium, the estimated listing price is ₹249 per share, indicating a 17.45% premium over the IPO price of ₹212.
According to grey market trends over the past 14 sessions, the IPO’s GMP has moved upward today, pointing to positive listing expectations. During this period, the GMP ranged between ₹0 and ₹37, based on expert analysis.
Technocraft Ventures IPO details
Technocraft Ventures IPO was a book-built issue of ₹251.88 crore, comprising a fresh issue of 95 lakh shares aggregating to ₹201.51 crore and an offer for sale (OFS) of 24 lakh shares amounting to ₹50.37 crore. The company had set the IPO price band at ₹200- ₹212 per share.
The mainboard IPO opened for subscription on 7 August and will close on 11 August.
Khambatta Securities is acting as the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
The company intends to use the majority of the IPO proceeds to bolster its working capital. About ₹150 crore has been allocated for working capital requirements, which is expected to support business expansion, enhance operational efficiency, and strengthen financial flexibility. The balance proceeds will be utilised for general corporate purposes.
Incorporated in October 1998, Technocraft Ventures Ltd. is an infrastructure development company that undertakes turnkey Engineering, Procurement and Construction (EPC) projects. Its operations are primarily focused on infrastructure projects for state governments and government agencies across northern India, including Uttar Pradesh, Uttarakhand, Rajasthan and the National Capital Territory of Delhi.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
