Now Reading: Technocraft soars 58% on debut; LEAP India lists at 4% premium
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Technocraft soars 58% on debut; LEAP India lists at 4% premium
Technocraft Ventures listed on Friday with a 58% gain over its ₹212 issue price, while KKR-backed LEAP India made a muted debut at a 4.3% premium, valuing the supply chain firm at…
The Story in Brief
Technocraft Ventures listed on Friday with a 58% gain over its ₹212 issue price, while KKR-backed LEAP India made a muted debut at a 4.3% premium, valuing the supply chain firm at ₹6,918 crore. Technocraft's ₹251.88-crore IPO was subscribed 38.69 times, driven by non-institutional investors. LEAP's ₹2,480-crore issue, backed by GIC and Dymon Asia, saw only 1.71 times retail subscription amid valuation concerns. Analysts at Arihant Capital cited declining EBITDA margins and no listed peers. Both stocks began trading on the NSE and BSE on August 14.
The Indian Opinion
Retail investors who shunned LEAP's IPO (1.71 times subscription) were vindicated by its flat debut, while Technocraft's 58% pop has revived the 'hot issue' talk. But the narrative that all KKR-backed listings are winners is overblown, Arihant Capital flagged LEAP's thinning margins and lack of direct peers. The real test will come in LEAP's next quarterly report: can it convert its $725-million valuation into consistent earnings growth?
Sources (3): thehindubusinessline.com, thehindubusinessline.com (2), ndtvprofit.com
This story was synthesised by AI from the 3 sources linked above.
