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.