Technocraft Ventures IPO Day 2: GMP Indicates 11% Premium as Issue Receives 2.59x Subscription Rate—Is It a Buy?

The Technocraft Ventures IPO, valued at Rs 251.88 crore, is currently in its second day of bidding, showing robust investor interest. As of the latest reports, the IPO has been subscribed 2.59 times, with 83.17 lakh shares receiving bids against the total shares on offer. The retail segment has seen full subscription, indicating strong demand from individual investors. The price band for the IPO is set at Rs 200-Rs 212 per share, with a minimum investment of Rs 14,840 required for retail investors to apply for one lot of 70 shares. Subscription for the IPO will remain open until August 11, with the share allotment expected to be finalized on August 12, before making a debut on the NSE and BSE on August 14.

Current grey market sentiment surrounding the Technocraft Ventures IPO is positive, with the issue commanding an 11% premium at Rs 23 per share. This suggests that potential investors are optimistic about the stock’s performance when it lists. The latest grey market premium indicates an expected listing price of approximately Rs 235 per share, contingent on investor demand at the time of listing. Market analysts, such as those from Anand Rathi, have issued a “Subscribe – Long Term” rating, highlighting the growth potential and business fundamentals of the company, which specializes in infrastructure development primarily for government projects.

For Indian investors, the Technocraft Ventures IPO presents a compelling opportunity, particularly for those with a longer investment horizon. The company’s strong financial performance, evidenced by a 54% increase in profit after tax in FY26, adds to the allure. Given its diversified order book and extensive experience in infrastructure projects across northern India, Technocraft Ventures appears well-positioned for future growth. However, investors should also consider the valuation, as it is relatively fair compared to listed peers, meaning a cautious approach may be warranted alongside optimistic market sentiment.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)