3 weeks ago
Technocraft Ventures IPO subscribed 38.69 times; listing August 14
An IPO is when a company sells its shares to the public for the first time to raise money.
Technocraft Ventures is a company in India that builds roads and other public projects for state governments.
It held an IPO and many people wanted to buy its shares — 38.69 times more people applied than the shares available.
Over 13.48 lakh people applied, putting in more than Rs 6,800 crore.
Because so many people applied, not everyone will get shares, so a lottery called allotment decides who gets them.
Retail investors have a 4.54% chance of getting some shares.
In the grey market, where shares trade before they officially list, the price is higher by Rs 29-31, which suggests shares might rise by 14-15% when trading starts.
The shares will officially start trading on August 14 on two Indian stock exchanges, BSE and NSE.
Technocraft Ventures IPO was subscribed 38.69 times, attracting bids worth over Rs 6,800 crore via over 13.48 lakh applications.
The QIB portion was booked 42.26 times, non-institutional investors 65.06 times, and the retail quota 25.35 times.
Allotment odds: 1 in 12 big HNI investors, 1 in 65 small HNI investors, and 1 in 22 retail investors are expected to get shares.
The grey market premium stood at Rs 29-31 per share, suggesting a listing pop of 14-15 per cent.
Credit of shares and refund initiation is set for August 12, with tentative listing on August 14 on BSE Ltd and NSE.
- Who
- Investors who bid in the Technocraft Ventures IPO, along with lead manager Khambatta Securities and registrar Bigshare Services.
- What
- Technocraft Ventures' IPO was subscribed 38.69 times with bids worth over Rs 6,800 crore, and allotment status is now available to check.
- Where
- India; shares will list on BSE Ltd and NSE, and the company is based in New Delhi and works across northern India.
- When
- Credit of shares and refund initiation is scheduled for Thursday, August 12, with August 14, Friday as the tentative listing date.
- Why
- The company went public to raise capital, and the issue drew strong demand, suggesting a 14-15 per cent listing gain.
Key facts
- Company
- Technocraft Ventures Limited
- Business
- Public infrastructure development (turnkey EPC projects)
- Subscription
- 38.69 times
- Total bids
- Over Rs 6,800 crore
- Applications
- Over 13.48 lakh
- Grey market premium
- Rs 29-31 per share
- Tentative listing date
- August 14
- Lead manager / Registrar
- Khambatta Securities / Bigshare Services
Sources
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