Technocraft Ventures IPO Listing: Shares List At Over 34% Premium On BSE
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Technocraft Ventures Limited made a strong market debut, with shares listing at over a 34% premium on BSE. The ₹251.88-crore IPO was subscribed 38.69 times, led by strong institutional demand.
Technocraft Ventures Limited made a strong stock market debut on Friday, with the company’s shares listing at a premium of over 34% to its initial public offering (IPO) price on the Bombay Stock Exchange (BSE).
Technocraft Ventures’ shares opened at ₹285 apiece on BSE, marking a listing premium of 34.43%. On the National Stock Exchange (NSE), the shares debuted at ₹284, up 33.96% from the IPO price.
Technocraft Ventures IPO And Subscription Details
Technocraft Ventures IPO was a ₹251.88 crore book-built issue, comprising a fresh issue of 95 lakh shares worth ₹201.51 crore and an offer for sale (OFS) of 24 lakh shares amounting to ₹50.37 crore. The company fixed the IPO price band at ₹200–₹212 per share.
The mainboard IPO opened for subscription on 7 August and closed on 11 August. Khambatta Securities served as the book-running lead manager, while Bigshare Services Pvt. Ltd acted as the registrar to the issue.
The IPO drew a strong response from investors. It was subscribed 38.69 times overall. The non-institutional investors (NII) portion saw the highest demand at 65.06 times, followed by the qualified institutional buyers (QIB) category at 42.26 times. The retail portion was subscribed 25.35 times.
About Technocraft Ventures Limited
Technocraft Ventures Limited, incorporated in October 1998, is an infrastructure development company that undertakes turnkey engineering, procurement and construction (EPC) projects. Its operations are mainly 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.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
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