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Business News/ Markets / Ipo/  Trident Techlabs IPO announces price band at 33-35 per share: GMP, key dates, more
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Trident Techlabs IPO announces price band at ₹33-35 per share: GMP, key dates, more

Trident Techlabs IPO price band is set in the range of ₹33 to ₹35. The IPO will open for subscription on December 21 and close on December 26. The lot size is 4,000 shares.

Trident Techlabs IPO is scheduled to open for subscription from December 21 to December 26. (https://www.tridenttechlabs.com/)Premium
Trident Techlabs IPO is scheduled to open for subscription from December 21 to December 26. (https://www.tridenttechlabs.com/)

Trident Techlabs IPO price band is set in the range of 33 to 35. Trident Techlabs IPO will open for subscription on Thursday, December 21, and will close on Tuesday, December 26. Trident Techlabs IPO lot size 4,000 shares. Investors can bid for a minimum of 4,000 shares and in multiples thereof. The allocation to anchor investors for Trident Techlabs IPO is scheduled to take place Wednesday, December 20. The cap price is 3.5 times of the face value of the equity shares. The price/earnings ratio based on diluted EPS for the year ended March 2023 for the company at the upper end of the price band is 7.42.

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Trident Techlabs provides businesses in the semiconductor, automotive, telecom, aerospace, defence, and power distribution industries with custom-built technology solutions. Power System Solutions and Engineering Solutions are our two business verticals. With our extensive industry knowledge and 360-degree perspective on "Business through Technology," we help clients build profitable, flexible companies. This allows us to deliver winning business outcomes.

As stated in the company's Red Herring Prospectus (RHP), there are no listed companies in India that engage in a business similar to that of the company.

Also Read: Presstonic Engineering IPO allotment finalised: Latest GMP, steps to check Presstonic IPO allotment status

Trident Techlabs IPO details

Trident Techlabs IPO, which is worth 16.03 crore, is completely a fresh issue of 4,580,000 equity share; there is no offer for sale (OFS) component, according to RHP.

The company plans to use the net proceeds to pay for the following: general corporate purposes and the company's working capital needs.

The registrar of the Trident Techlabs IPO is Maashitla Securities Private Limited, and the book running lead manager is GYR Capital Advisors Private Limited. Giriraj Stock Broking is the market maker for Trident Techlabs IPO.

Trident Techlabs IPO, has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The market maker portion allocated is up to 3,60,000 equity shares or 7.86% of the issue.

Tentatively, Trident Techlabs IPO basis of allotment of shares will be finalised on Wednesday, December 27 and the company will initiate refunds on Thursday, December 28, while the shares will be credited to the demat account of allottees on the same day following refund. Trident Techlabs share price is likely to be listed on NSE SME on Friday, December 29.

Also Read: Blockbuster debut: Accent Microcell share price opens with 114% premium at 300 on NSE SME

Trident Techlabs IPO GMP today

Trident Techlabs IPO GMP today or grey market premium was 0, which meant shares were trading at their issue price of 35 with no premium or discount in the grey market according to investorgain.com.

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

Also Read: India Shelter IPO: Bidding ends today. GMP, subscription status, other details; apply or not?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 15 Dec 2023, 11:57 AM IST
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