Falcon Technoprojects share price makes a weak debut, stock opens with 8.7% discount at ₹84 on NSE SME

Falcon Technoprojects share price made a weak debut on NSE SME today. Falcon Technoprojects share price opened at ₹84, which is 8.7% lower than the issue price of ₹92. Following a tepid debut, the stock was locked in 5% upper circuit. 

Falcon Technoprojects India IPO started for subscriptions on Wednesday, June 19, and ended on Friday, June 21. Falcon Technoprojects IPO price band was set at ₹92 per equity share with a face value of ₹10 each. The lot size for the Falcon Technoprojects IPO was 1,200 shares. Falcon Technoprojects IPO subscription status of 65.32 times on the last day of bidding, as per chittorgarh.com.

Also Read: Falcon Technoprojects India IPO opens on Wednesday. GMP, price, other details of upcoming IPO in 10 points

The firm provides Mechanical, Electrical, and Plumbing (MEP) services to our PAN India clients who work in a range of sectors including petroleum refineries, residential Townships, atomic energy, civil construction, and so on, according to the Prospectus.

Mumbai International Airport, L&T, BPCL, HPCL, Lodha Developers, Reliance Industries, and Shapoorji Pallonji Group are a some of the company's well-known customers.

The company's promoters are Bharat Shreekishan Parihar and Sheetal Bharat Parihar.

Regarding the firm's listed peers, the company also revealed that they examined the business models of listed firms engaged in similar activities to the company in order to find comparable listed peer businesses /groupings.

Falcon Technoprojects IPO details

Falcon Technoprojects IPO, worth ₹13.69 crore, consists of a fresh issuance of 14,88,000 equity shares at face value of ₹10. There is no offer-for-sale component.

The funds raised via this offering will be used by the firm for other corporate objectives (20.50 percent of the net proceeds) and working capital requirements (78.53% of the net proceeds).

For the Falcon Technoprojects India IPO, Kfin Technologies Limited is the registrar and Kunvarji Finstock Pvt Ltd is the book-running lead manager. Falcon Technoprojects India's IPO is being market-made by Nikunj Stock Brokers.

Also Read: Falcon Technoprojects IPO allotment finalised today; latest GMP, 4 steps to check status

Falcon Technoprojects IPO GMP today

Falcon Technoprojects IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹92 with no premium or discount in the grey market according to investorgain.com.

Today's IPO GMP points down and is expected to decrease further based on the activity of the grey market during the past 14 sessions. According to investorgain.com, the lowest GMP is ₹0 and the maximum GMP is ₹33.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Falcon Technoprojects India IPO day 3: Check Subscription status , GMP, key dates and all you need to know

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