3 weeks ago
Technocraft Ventures IPO subscribed 38.69 times on final day
A company called Technocraft Ventures is selling pieces of itself to the public for the very first time.
That special event is called an IPO, and the company builds important public things like water pipes, roads, power lines and other city utilities.
Each piece, called a share, costs between 200 and 212 rupees.
Lots of people wanted shares, so many that the sale was subscribed almost 39 times over.
Before the official sale, big investors gave the company 75.55 crore rupees in a special preview called the anchor round.
The company is doing well, making more money this year than it did last year.
Its shares will start trading on two big stock exchanges in India on August 14.
Some market experts say the shares are a good deal, pointing to strong growth and healthy finances.
However, a grey market suggests people are also paying a small extra premium of about 30 rupees per share ahead of the listing.
As with all shares, it is wise to think carefully before buying.
Technocraft Ventures' ₹251.88 crore IPO closed on Tuesday, August 11, subscribed 38.69 times, with bids for 32.17 crore shares against 83.17 lakh on offer.
Non-institutional investors led demand at 65.06 times, followed by qualified institutional buyers at 42.26 times and retail investors at 25.35 times.
Subscription climbed from 2.59x on day one and 4.73x on day two to 7.35x by day three, with a grey market premium of ₹30 implying an estimated listing price of ₹242.
The issue of 1.18 crore shares comprises a fresh issue of 95.05 lakh shares and an offer for sale of 23.76 lakh shares by promoter entity Kartikey Constructions; ₹150 crore of proceeds will fund working capital.
FY26 revenue rose to ₹344.99 crore from ₹279.56 crore and profit after tax to ₹43.32 crore from ₹28.20 crore, with listing scheduled on the BSE and NSE on August 14.
- Who
- Technocraft Ventures Ltd, an engineering, procurement and construction (EPC) company, its promoter entity Kartikey Constructions, book-running lead manager Khambatta Securities, and brokerages SMIFS and Swastika Investmart recommending the issue.
- What
- Technocraft Ventures' ₹251.88 crore initial public offering, subscribed 38.69 times on the final bidding day, comprising a fresh issue of 95.05 lakh shares and an offer for sale of 23.76 lakh shares.
- Where
- India; the company works on public infrastructure projects for state governments across Uttar Pradesh, Uttarakhand, Rajasthan, Delhi, Madhya Pradesh, Bihar and Odisha, and its shares will list on the BSE and NSE.
- When
- Bidding ended on Tuesday, August 11, 2026; allotment is tentatively set for Wednesday, August 12, refunds on Thursday, August 13, and listing planned for Friday, August 14.
- Why
- The company is raising funds to meet working capital requirements of ₹150 crore from fresh-issue proceeds, with the remainder for general corporate purposes and offer-related expenses.
Key facts
- Price band
- ₹200-212 per share
- Final-day subscription
- 38.69x (NII 65.06x, QIB 42.26x, Retail 25.35x)
- Issue size
- ₹251.88 crore (1.18 crore shares)
- Anchor investors
- ₹75.55 crore raised before the issue
- Grey market premium
- ₹30; estimated listing price ₹242
- FY26 financials
- Revenue ₹344.99 crore; PAT ₹43.32 crore; RoE 26.51%; RoCE 27.72%
- Listing
- BSE and NSE on Friday, August 14
- Book-running lead manager
- Khambatta Securities




