Technocraft Ventures IPO: Application status, allotment odds, GMP, listing date & more

Technocraft Ventures is scheduled to finalize the basis of allotment of its shares on Wednesday, August 12. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Thursday, August 13. The EMS and engineering solutions saw a bumper response from the investors.

The IPO of Technocraft Ventures was open for bidding between August 07 and August 11. It had offered its shares in the price band of Rs 200-212 per share with a lot size of 70 shares. The company raised a total of Rs 252 crore from its IPO, which include a fresh share sale of Rs 202 crore and an offer-for-sale (OFS) of up to 23,76,000 equity shares worth Rs 50 crore.

The issue was subscribed a solid 38.69 times, attracting bids worth over Rs 6,800 crore via over 13.48 lakh applications. The portion for qualified institutional bidders (QIBs) was booked 42.26 times, while the quota for non-institutional investors (NIIs) was subscribed 65.06 times. The allocations for retail investors was subscribed 25.35 times.

Here is the tentative odds allotment matrix in Technocraft Ventures IPO for the investors:

• Big HNI category: 1 investor out of 12 investors will get 980 shares (Probability: 8.33 per cent)
• Small HNI category: 1 investor out of 65 investors will get 980 shares (Probability: 1.54 per cent)
• Retail category: 1 investor out of 22 investors will get 70 shares. (Probability: 4.54 per cent)

The grey market premium of Technocraft Ventures has seen some rebound thanks to solid bidding and decent listings lately amid muted market sentiments in the listed markets. Last heard, the company was commanding a grey market premium (GMP) of Rs 29-31 apiece, suggesting a listing pop of 14-15 per cent for the investors. 

Incorporated in 1998, New Delhi-based Technocraft Ventures is a public infrastructure development company that undertakes turnkey EPC projects. It works across multiple infrastructure sectors, delivering projects mainly for state governments and government agencies in northern India, including Uttar Pradesh, Uttarakhand, Rajasthan, and the National Capital Territory of Delhi.

Khambatta Securities is the sole book running lead manager for Technocraft Ventures IPO, while Bigshare Services is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Thursday, August 12. Shares of the company shall be listed on both BSE Ltd and NSE with August 14, Friday as the tentative date of listing. 

Investors, who had bid for the issue of Technocraft Ventures IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Technocraft Ventures Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘TECHNOCRAF’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of Bigshare Services Private Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit Search to know your allotment status.