Technocraft Ventures IPO Listing: Stock Debuts 34% Above Issue Price At Rs 285 On BSE

Technocraft Ventures shares made a strong debut on the stock exchanges on August 14, listing at Rs 285 apiece on the BSE, a premium of Rs 73 or 34.43 per cent over the issue price of Rs 212. On the NSE, the stock debuted at Rs 284, up Rs 72 or 33.96 per cent from the issue price.

The listing was significantly higher than grey market expectations. Technocraft Ventures’ latest GMP stood at Rs 42 ahead of listing, indicating an estimated listing price of Rs 254 at the upper end of the price band.

The Rs 251.88 crore Technocraft Ventures IPO was open for subscription from August 7 to August 11. The issue comprised a fresh issue of 95.05 lakh shares worth Rs 201.51 crore and an offer for sale of 23.76 lakh shares aggregating to Rs 50.37 crore.

The company had fixed the IPO price band at Rs 200-212 per share, with a lot size of 70 shares. At the upper end of the price band, retail investors were required to invest a minimum of Rs 14,840.

Khambatta Securities acted as the book running lead manager for the issue, while Bigshare Services was the registrar.