Now Reading: Technocraft Ventures IPO opens with brokerages split on valuations
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Technocraft Ventures IPO opens with brokerages split on valuations
Technocraft Ventures IPO opens with brokerages split on valuations
Technocraft Ventures’ initial public offering has opened after the infrastructure company raised Rs 75.55 crore from four anchor investors at Rs 212 a share. The New Delhi-based EPC contractor has set aside…
The Story in Brief
Technocraft Ventures’ initial public offering has opened after the infrastructure company raised Rs 75.55 crore from four anchor investors at Rs 212 a share. The New Delhi-based EPC contractor has set aside 50% of the issue for qualified institutional buyers, 15% for non-institutional investors and 35% for retail bidders. Its shares are scheduled to list on the BSE and NSE on August 14.
The company reported FY26 revenue of Rs 347 crore and net profit of Rs 43.32 crore, against Rs 281 crore and Rs 28.20 crore respectively in FY25. The grey market premium stood at Rs 18 to Rs 20, according to Business Today. Anand Rathi, Swastika Investmart, Sushil Finance, BP Equities and Ventura recommended subscribing, while Marwadi Financial Services advised investors to avoid the issue over client concentration, weak cash conversion and high receivables.
The Indian Opinion
The easy story is that government infrastructure spending makes this IPO an automatic buy. The opposite claim, that one client concentration concern makes it uninvestable, is just as blunt. The reported top-five client share of 80% and working-capital strain deserve more weight than grey market chatter, while the Rs 1,320.7 crore unexecuted order book offers a reason to study the company further. Investors should check whether cash flows improve as profits grow, rather than judge the issue by its first-day premium.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
