Technocraft Ventures lists at ₹284 on NSE, jumps 33.96%
Business
Technocraft Ventures kicked off its stock market journey on Tuesday, listing at ₹284 on NSE, about 33.96% higher than its issue price of ₹212.
The BSE opening was even a tad higher at ₹285.
With a gray market premium hinting at strong investor buzz before launch, it's clear people were excited about this IPO.
Technocraft Ventures IPO oversubscribed 38.69 times
The IPO saw wild interest, getting subscribed 38.69 times overall. Noninstitutional investors went all in, oversubscribing their chunk by 65.06 times; QIBs and retail investors weren't far behind either.
Out of the ₹150 crore net proceeds from the fresh issue, Technocraft plans to use most funds for working capital requirements and the remaining funds for general corporate purposes, so they're gearing up for growth after this big start.