Trident Techlabs share price see a stellar start. List with gains of 180% over the issue price, at ₹98.15 on NSE SME
Trident Techlabs share price saw a stellar start, listing with gains of 180% over the issue price, at ₹98.15 on the NSE SME.
The initial public offering of small and medium-sized enterprises (SME),Trident Techlabs had received strong response from investors and the issue was subscribed 502.64 times on the third and final day of bidding.
The Trident Techlabs GMP or grey market premium stood at ₹40. This indicates Trident Techlabs share price were trading at a premium of ₹40 in the grey market on Wednesday, according to investorgain.com.
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Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ₹75 apiece, which is 114.29 percent higher than the IPO price of ₹35.
According to investorgain.com, the lowest GMP is Re 0, while the highest GMP is ₹40. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The Trident Techlabs IPO had opened for subscription on December 21 and closed on Tuesday, December 26. The Trident Techlabs IPO price band had been set at ₹33 to ₹35 per share. The minimum lot size for an application is 4,000 shares. The minimum amount of investment required by retail investors is ₹140,000.
Trident Techlabs IPO was a book built issue of ₹16.03 crores. The issue was entirely a fresh issue of 45.8 lakh shares.
The company proposed to utilise the net proceeds in consulting and technical services in system-level electronic design, chip-level electronic design, embedded design, hydraulic/pneumatic systems, system modelling, reliability and quality, design automation, power electronics, PCB design, and electromagnetic simulations.
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Trident Techlabs provides technology-based solutions to the aerospace, defence, automotive, telecommunications, semiconductor, and power distribution industries. The company has two verticals – engineering solutions and power system solutions.
GYR Capital Advisors Private Limited was the book-running lead manager of the Trident Techlabs IPO, while Maashitla Securities Private Limited wass the registrar for the issue. The market maker for Trident Techlabs IPO was Giriraj Stock Broking.
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Published: 29 Dec 2023, 10:05 AM IST
