Now Reading: Technocraft Ventures IPO listing set for August 14
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Technocraft Ventures IPO listing set for August 14
Technocraft Ventures’ shares are scheduled to list on the NSE and BSE on August 14 after its Rs 251.88 crore IPO drew 38.69 times overall subscription. The QIB portion was subscribed 42.26…
The Story in Brief
Technocraft Ventures’ shares are scheduled to list on the NSE and BSE on August 14 after its Rs 251.88 crore IPO drew 38.69 times overall subscription. The QIB portion was subscribed 42.26 times, the NII segment 65.06 times and the retail portion 25.35 times, LiveMint reports. The IPO price band was Rs 200 to Rs 212. Bigshare Services is the registrar.
LiveMint reports differing grey market premiums in its updates, ranging from Rs 27 to Rs 37. These imply estimated listing prices of Rs 239 to Rs 249, against the issue price of Rs 212. Grey market premiums are unofficial indicators and do not guarantee the listing price. Investors can check allotment using their PAN, beneficiary ID or application number on Bigshare’s website. Shares and refunds are scheduled for August 13.
The Indian Opinion
The easy story is that heavy oversubscription and a grey market premium guarantee quick gains. They do not. Subscription figures can reflect demand that never translates into sustained buying, while the reported GMP moved between Rs 27 and Rs 37 in separate LiveMint updates. Investors should judge the company’s EPC business and use of Rs 150 crore for working capital, then watch the actual NSE and BSE opening price on August 14.
Sources (2): livemint.com, livemint.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
