Techknowgreen Solutions shares make a tepid debut; lists at 1.2% premium at ₹87 on BSE SME

Techknowgreen listing date: Techknowgreen Solutions share price listed on BSE SME at a premium on Wednesday. On BSE SME, Techknowgreen Solutions share price today was listed at ₹87 per share, 1.2% higher than the issue price of ₹86.

Techknowgreen Solutions Limited IPO opened for subscription on Monday, September 18, and closed 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.

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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.

Techknowgreen Solutions Limited IPO GMP today

Techknowgreen Solutions IPO GMP today or grey market premium is +5 similar to the previous seven trading sessions. This indicates Techknowgreen Solutions share price were trading at a premium of ₹5 in the grey market on Wednesday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Techknowgreen Solutions share price is ₹91 apiece, which is 5.81% higher than the IPO price of ₹86.

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

Also Read: Techknowgreen Solutions IPO: Latest GMP, subscription status on day 3, other key details