Technocraft Ventures IPO opens: Should you apply or avoid? Check price band, GMP & reviews
Technocraft Ventures is selling its shares in the price band of Rs 200-212 apiece, applied for a minimum of 70 shares and its multiples to raise Rs 252 crore between August 07-11.
- Aug 7, 2026,
- Updated Aug 7, 2026 9:56 AM IST
The initial public offering (IPO) of Technocraft Ventures opens for bidding on Friday, August 07. The water treatment solutions is offering its shares in the range of Rs 200-212 apeice and investors can apply for minimum 70 equity shares and its multiples thereafter. The issue will close for subscription Tuesday, August 11.
The Rs 252 crore-IPO of Technocraft Ventures includes a fresh share sale of Rs 202 crore and an offer-for-sale (OFS) of up to 23,76,000 crore equity shares worth Rs 50 crore. The net proceeds from the fresh issue shall be utilized towards funding working capital requirements of the company and general corporate purposes.
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.
Ahead of its IPO, Technocraft Ventures raised Rs 75.55 crore from 4 anchor investors as it allocated 35,63,810 equity shares for Rs 212 apiece. Its anchor book included names like LRSD Securities, Vikasa India EIF Fund, Nakshatra Bharat Vantage and Venus Investments VCC.
For the financial year ended on March 31, 2026, Technocraft Ventures reported a net profit of Rs 43.32 crore, with a revenue of Rs 347 crore. The company clocked a net profit of Rs 28.20 crore with a revenue of Rs 281 crore for the fiscal year 2024-25. At the current valuations, Technocraft Ventures commands a market capitalization of close to Rs 839.65 crore.
Technocraft Ventures has reserved 50 per cent of the net offer for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of allocation. Retail investors will get 35 per cent of the reservation in the issue. Last heard, the company was commanding a grey market premium of Rs 18-20 apeice, suggesting a listing pop of 8-9 per cent for the investors.
Khambatta Securities is the sole book running lead manager for Technocraft Ventures IPO, while Bigshare Services is the registrar of the issue. Shares of the company shall be listed on both BSE Ltd and NSE with August 14, Friday as the tentative date of listing. Here's what a host of brokerage firms say about the IPO of Technocraft Ventures:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term Technocraft is a diversified EPC infra company with over two decades of execution experience across water and wastewater infrastructure, roads and highways, electrical transmission, urban infrastructure and operation & maintenance services. It has established a strong presence across Northern and Central India, said Anand Rathi.
"Its diversified order book, expanding geographical presence and integrated EPC capabilities provide visibility for long-term growth. However, considering the proposed valuation relative to listed peers, the IPO appears fairly valued," it added with a 'subscribe for long-term' rating.
Marwadi Financial Services Rating: Avoid "We assign an 'avoid' rating to this IPO as the company has high client concentration, with the top five clients contributing 80 per cent of revenue, weak cash conversion, and a working capital-intensive business model with elevated receivable days, which may constrain operating cash flows," said Marwadi Financial Services.
Swastika Investmart Rating: Subscribe Technocraft IPO is available at a discount to most listed peers, making the valuation attractive. It has delivered healthy growth in revenue, profitability, and return ratios, reflecting a solid business, said Swastika Investmart.
"With increasing government focus on water and infrastructure development, the company is well placed to benefit from future projects. The IPO looks attractive for both minor listing gains and long-term investment, supported by fair valuation, healthy financial performance, and positive sector outlook," it adds.
Sushil Finance Rating: Susbcribe Technocraft Ventures merits a 'subscribe' on the strength of consistent, accelerating growth and a genuinely improving return profile, said Sushil Finance. "On valuation, listed peers trade at a 14.8-32 times diluted P/E band; against FY26 diluted EPS of Rs.14.39, there's a credible case for a reasonable listing pop if priced near or below the peer average," it adds.
BP Equities Rating: Subscribe Technocraft operates at a relatively smaller scale than larger listed EPC players, it delivers superior return ratios, stronger profitability and robust earnings growth, supported by a healthy execution pipeline, said BP Equities. We believe it offers exposure to a niche infrastructure company with improving financials and strong order visibility," it added with a 'subscribe' for long-term tag.
Ventura Securities Rating: Subscribe Technocraft Ventures is an EPC infrastructure company focused on water and wastewater management, roads, electrical transmission and urban development projects. With a strong presence across North and Central India, the company executes projects under key government initiatives such as Jal Jeevan Mission, AMRUT and Namami Gange, said Ventura.
"It reported robust FY26 performance, with revenue rising 23.4 per cent to Rs 345 crore and PAT increasing to Rs 43.3 crore, supported by healthy operating margins. Backed by an unexecuted order book of Rs 1,320.7 crore and new project wins, Technocraft is positioned to benefit from India's infrastructure spending and expanding water and sanitation investments," it said with a 'subscribe' rating.
Equivision Rating: Subscribe While it has established a strong presence in the state, Rajasthan is a highly competitive market with several established regional and national infrastructure players competing for government projects. Any slowdown project awards, reduction in government spending, or increased competitive intensity could adversely impact the company's order inflows, revenue growth, and profitability, said Equivision with a 'subscribe' rating.
The initial public offering (IPO) of Technocraft Ventures opens for bidding on Friday, August 07. The water treatment solutions is offering its shares in the range of Rs 200-212 apeice and investors can apply for minimum 70 equity shares and its multiples thereafter. The issue will close for subscription Tuesday, August 11.
The Rs 252 crore-IPO of Technocraft Ventures includes a fresh share sale of Rs 202 crore and an offer-for-sale (OFS) of up to 23,76,000 crore equity shares worth Rs 50 crore. The net proceeds from the fresh issue shall be utilized towards funding working capital requirements of the company and general corporate purposes.
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.
Ahead of its IPO, Technocraft Ventures raised Rs 75.55 crore from 4 anchor investors as it allocated 35,63,810 equity shares for Rs 212 apiece. Its anchor book included names like LRSD Securities, Vikasa India EIF Fund, Nakshatra Bharat Vantage and Venus Investments VCC.
For the financial year ended on March 31, 2026, Technocraft Ventures reported a net profit of Rs 43.32 crore, with a revenue of Rs 347 crore. The company clocked a net profit of Rs 28.20 crore with a revenue of Rs 281 crore for the fiscal year 2024-25. At the current valuations, Technocraft Ventures commands a market capitalization of close to Rs 839.65 crore.
Technocraft Ventures has reserved 50 per cent of the net offer for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of allocation. Retail investors will get 35 per cent of the reservation in the issue. Last heard, the company was commanding a grey market premium of Rs 18-20 apeice, suggesting a listing pop of 8-9 per cent for the investors.
Khambatta Securities is the sole book running lead manager for Technocraft Ventures IPO, while Bigshare Services is the registrar of the issue. Shares of the company shall be listed on both BSE Ltd and NSE with August 14, Friday as the tentative date of listing. Here's what a host of brokerage firms say about the IPO of Technocraft Ventures:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term Technocraft is a diversified EPC infra company with over two decades of execution experience across water and wastewater infrastructure, roads and highways, electrical transmission, urban infrastructure and operation & maintenance services. It has established a strong presence across Northern and Central India, said Anand Rathi.
"Its diversified order book, expanding geographical presence and integrated EPC capabilities provide visibility for long-term growth. However, considering the proposed valuation relative to listed peers, the IPO appears fairly valued," it added with a 'subscribe for long-term' rating.
Marwadi Financial Services Rating: Avoid "We assign an 'avoid' rating to this IPO as the company has high client concentration, with the top five clients contributing 80 per cent of revenue, weak cash conversion, and a working capital-intensive business model with elevated receivable days, which may constrain operating cash flows," said Marwadi Financial Services.
Swastika Investmart Rating: Subscribe Technocraft IPO is available at a discount to most listed peers, making the valuation attractive. It has delivered healthy growth in revenue, profitability, and return ratios, reflecting a solid business, said Swastika Investmart.
"With increasing government focus on water and infrastructure development, the company is well placed to benefit from future projects. The IPO looks attractive for both minor listing gains and long-term investment, supported by fair valuation, healthy financial performance, and positive sector outlook," it adds.
Sushil Finance Rating: Susbcribe Technocraft Ventures merits a 'subscribe' on the strength of consistent, accelerating growth and a genuinely improving return profile, said Sushil Finance. "On valuation, listed peers trade at a 14.8-32 times diluted P/E band; against FY26 diluted EPS of Rs.14.39, there's a credible case for a reasonable listing pop if priced near or below the peer average," it adds.
BP Equities Rating: Subscribe Technocraft operates at a relatively smaller scale than larger listed EPC players, it delivers superior return ratios, stronger profitability and robust earnings growth, supported by a healthy execution pipeline, said BP Equities. We believe it offers exposure to a niche infrastructure company with improving financials and strong order visibility," it added with a 'subscribe' for long-term tag.
Ventura Securities Rating: Subscribe Technocraft Ventures is an EPC infrastructure company focused on water and wastewater management, roads, electrical transmission and urban development projects. With a strong presence across North and Central India, the company executes projects under key government initiatives such as Jal Jeevan Mission, AMRUT and Namami Gange, said Ventura.
"It reported robust FY26 performance, with revenue rising 23.4 per cent to Rs 345 crore and PAT increasing to Rs 43.3 crore, supported by healthy operating margins. Backed by an unexecuted order book of Rs 1,320.7 crore and new project wins, Technocraft is positioned to benefit from India's infrastructure spending and expanding water and sanitation investments," it said with a 'subscribe' rating.
Equivision Rating: Subscribe While it has established a strong presence in the state, Rajasthan is a highly competitive market with several established regional and national infrastructure players competing for government projects. Any slowdown project awards, reduction in government spending, or increased competitive intensity could adversely impact the company's order inflows, revenue growth, and profitability, said Equivision with a 'subscribe' rating.