By the close of the subscription period, Technocraft Ventures IPO was subscribed 38.69 times, garnering bids for 32.17 crore shares against the 83.17 lakh shares on offer, according to NSE data.
The Rs 251.88 crore public issue has attracted robust investor interest, while its grey market premium (GMP) has risen to around 14%, up from an earlier premium of 11%. The increase indicates positive market expectations ahead of the company’s stock market debut.
Adding to the positive sentiment, a market analyst has assigned the IPO a “Subscribe – Long Term” rating, citing its potential for investors with a longer investment horizon.
The issue comprises a fresh issue of 95 lakh shares worth Rs 201.51 crore and an offer for sale (OFS) of 24 lakh shares valued at Rs 50.37 crore.
Technocraft Ventures has fixed the IPO price band at Rs 200–Rs 212 per share, with a lot size of 70 shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 14,840 to apply for one lot.
The share allotment is expected to be finalised on August 12, while the company is tentatively scheduled to list on both the NSE and BSE on August 14.
Khambatta Securities is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar.
Technocraft Ventures IPO Subscription Status
Non-Institutional Investors (NIIs) led the demand, with their portion oversubscribed 65.06 times. This was followed by Qualified Institutional Buyers (QIBs), whose quota was subscribed 42.26 times. The Retail Individual Investors (RIIs) segment was oversubscribed 25.35 times.
Technocraft Ventures IPO GMP Today
The grey market continues to signal positive sentiment toward the Technocraft Ventures IPO. The latest Grey Market Premium (GMP) stands at Rs 30 per share, implying an estimated 14% premium over the IPO’s upper price band of Rs 212 per share.
If the GMP remains at the current level until the listing, Technocraft Ventures shares could potentially debut at around Rs 242 per share. This would translate into a potential listing gain of approximately Rs 30 per share over the upper issue price.
However, investors should note that GMP is an unofficial market indicator and does not guarantee listing gains. The premium can fluctuate significantly ahead of listing, while the actual listing price will ultimately depend on prevailing market conditions, investor demand and trading sentiment on the debut day.
Technocraft Ventures IPO: Where will the funds be used?
The company plans to primarily utilise the IPO proceeds to strengthen its working capital position. Around Rs 150 crore has been earmarked for meeting working capital requirements, which will help support business expansion, improve operational efficiency, and provide additional financial flexibility. Any remaining funds from the issue will be deployed toward general corporate purposes.
About Technocraft Ventures
Established in October 1998, Technocraft Ventures Ltd. is an infrastructure development company engaged in turnkey Engineering, Procurement, and Construction (EPC) projects. The company executes infrastructure projects largely for state governments and government agencies across northern India, including Uttar Pradesh, Uttarakhand, Rajasthan, and the National Capital Territory of Delhi.
Its services cover a wide range of areas: Water & Wastewater Infrastructure, Roads & Highways, Urban Infrastructure, and Trenchless & Micro-Tunnelling Works. The company has executed projects under schemes including AMRUT, JNNURM, UIDSST, Namami Gange, JJM, and PMGSY.
The company has experience implementing ADB-funded infrastructure projects with rigorous technical and environmental standards.
As of May 31, 2026, Technocraft Ventures employed 170 full-time staff, including 78 engineers, across functions such as engineering, procurement, finance, safety, business development, and administration.
Strong financial performance
Technocraft Ventures reported healthy growth in FY26, with total income rising 23% year-on-year to Rs 347 crore from Rs 281 crore in FY25. Profitability also improved significantly; profit after tax (PAT) jumped 54% to Rs 43.32 crore in FY26, compared with Rs 28.20 crore in the previous fiscal year, highlighting stronger operational performance.
Should you subscribe to Technocraft Ventures IPO?
According to a research report by Anand Rathi, Technocraft Ventures is valued at a P/E multiple of 19.4x at the upper price band, based on its FY26 annualised EPS of Rs 14.39. The post-issue market capitalisation is estimated at around Rs 8,397 million.
The brokerage highlighted the company's diversified order book, expanding geographical presence, and integrated EPC capabilities as key positives that provide long-term growth visibility. However, compared with listed peers, the IPO valuation appears fairly priced rather than discounted.
Anand Rathi has assigned a "Subscribe - Long Term" rating to the IPO, citing growth potential and business fundamentals.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
