Techknowgreen IPO: GMP, subscription status on day 2, other key details

Techknowgreen Solutions Limited IPO has opened for subscription on Monday, September 18, and will close on Thursday, September 21. Techknowgreen IPO price band has been set at ₹86 per equity share of face value of ₹10 each. Techknowgreen IPO lot size is 1,600 equity shares and in multiples of 1,600 equity shares thereafter.

Techknowgreen Solutions Limited IPO details

Techknowgreen IPO, which is worth ₹16.72 crores, is completely a fresh issue; there is no offer for sale (OFS) component. 

The company intends to use the net proceeds from the offering to finance the following objectives, including investments in research and development (R&D) initiatives, including the hiring of experienced R&D resources and the purchase of equipment to support R&D initiatives, investments in office space, including the renovation of new office space and the purchase of office equipment, and the expansion of its execution and support service teams, including the hiring of resources with expertise in environmental protection, and general corporate purposes. 

Ajay Ramakant Ojha and Prasad Rangrao Pawar are promoters of the company and promoters' shareholding in the company in pre issue stands at 89.02 per cent which will go down to 65.58 per cent in post-listing phase of the public issue.

Techknowgreen Solutions IPO's book-running lead manager is Indorient Financial Services Ltd, and the issue's registrar is Bigshare Services Pvt Ltd. Alacrity Securities is the market maker for the IPO

Technogreen Solutions IPO subscription status

Techknowgreen IPO subscription status was 3.61 times on day 2. The issue received positive response from retail investors who's portion set was subscribed 5.46 times, and non-institutional buyers who's portion set was subscribed 1.77 times, according to data on chittorgarh.com.

The company has received bids for 66,70,400 shares against 1,944,000 shares on offer, according to data on chittorgarh.com.

Techknowgreen Solutions Limited IPO subscription status was 85% on day 1.

Techknowgreen Solutions Limited IPO GMP today

Techknowgreen Solutions IPO GMP today or or grey market premium on Wednesday was ₹0, which meant shares were trading at their issue price of ₹86 with no premium or discount in the grey market according to topsharebrokers.com

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

Also Read: Techknowgreen Solutions IPO opens today. GMP, price, other details in 10 points