Technocraft Ventures IPO Oversubscribed 38.69x; Allotment Soon
Infrastructure project under construction in India
Key Highlights
Technocraft Ventures’ ₹251.88 crore IPO saw massive demand, oversubscribed 38.69 times. Allotment status expected August 12. Details inside.
Technocraft Ventures’ initial public offering, valued at ₹251.88 crore, concluded with an overall subscription of 38.69 times. Investors are now awaiting the finalization of allotment status, anticipated for Wednesday, August 12.
The public offer consisted of a fresh issue aggregating ₹201.51 crore and an offer for sale () of ₹50.37 crore by promoter Kartikey Constructions.
Breakdown
- (QIBs) subscribed 42.26 times.
- Non-Institutional Investors (NIIs) bids reached 65.06 times.
- Investors saw a subscription of 25.35 times.
The received bids for a total of 32,17,81,880 shares against the 83,17,190 equity shares on offer, according to data from the (NSE).
Company Operations & Funds Use
Technocraft Ventures operates as a public infrastructure development firm, focusing on turnkey engineering, procurement, and construction (EPC) projects. These projects are primarily undertaken for state governments and government agencies across Uttarakhand, Rajasthan, Uttar Pradesh, and the National Capital Territory of Delhi.
Funds from the fresh issue are earmarked for working capital requirements and general corporate purposes.
Checking Allotment Status
Investors can check their IPO allotment status through several official channels once finalized:
- National Stock Exchange (NSE) portal: Select ‘Equity & SME IPO bid details’, choose ‘TECHNOCRAF’, then enter application number and PAN.
- (BSE) allotment status link: Select ‘Equity’ and ‘Technocraft Ventures Ltd’, then enter PAN or IPO application number.
- KFin Technologies website (Bigshare Services): Select ‘Technocraft Ventures Limited’ and provide application number, beneficiary ID, or PAN.
Shares of Technocraft Ventures are scheduled for listing on both the NSE and the BSE on Friday, August 14, at 10 am.