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Business News/ Markets / Ipo/  Trident Techlabs IPO: Check GMP, subscription status on day 2, other key details
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Trident Techlabs IPO: Check GMP, subscription status on day 2, other key details

Trident Techlabs IPO: Trident Techlabs IPO has received bids for 36,51,60,000 shares against 30,16,000 shares on the offer

Trident Techlabs IPO open for subscription on December 21 (https://www.tridenttechlabs.com/)Premium
Trident Techlabs IPO open for subscription on December 21 (https://www.tridenttechlabs.com/)

Trident Techlabs IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Trident Techlabs received strong response from investors on Friday, December 22, as the issue was subscribed 121.07 times on the second day of bidding. Trident Techlabs opened for subscription on December 21 and will close on Tuesday, December 26.

Trident Techlabs IPO received overwhelming response from retail investors, non-institutional investors (NIIs) and qualified institutional buyers (QIBs) on day two. All three portions were fully subscribed on the second day.

Also Read: Trident Techlabs IPO to open on December 21; Know price band, issue size, date, GMP and other details

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.

Trident Techlabs IPO Subscription Status

Trident Techlabs IPO has received bids for 36,51,60,000 shares against 30,16,000 shares on the offer, at 19:30 IST, according to data from chittorgarh.com.

Trident Techlabs has reserved not more than 33.8 per cent of the shares in the public issue for retail investors, not less than 14.5 per cent for NIIs, not less than 17.55 per cent for QIBs, not less than 7.86 per cent for market maker, and not less than 26.29 per cent for the anchor investors.

On the second day, the portion reserved for retail investors was subscribed 204.78 times. Trident Techlabs IPOs' retail investors' portion received bids for 31,69,92,000 shares against 15,48,000 shares on offer for this segment.

The portion reserved for NIIs was subscribed 68.83 times. Trident Techlabs IPOs' NII portion received bids for 4,57,00,000 shares against 6,64,000 shares on offer for the segment.

The portion reserved for QIBs was subscribed 3.07 times. Trident Techlabs IPOs' QIB portion received bids for 24,68,000 shares against 8,04,000 shares on offer for the segment.

Trident Techlabs IPO Details

Trident Techlabs is a book-built issue of 16.03 crore and is entirely a fresh issue of 45.8 lakh shares. Trident Techlabs IPO price band is set at 33 to 35 per share. The minimum lot size for an application is 4000 shares. The minimum amount of investment required by retail investors is 140,000.

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

The company has raised over 4.21 crore from two anchor investors Chhattisgarh Investment Limited and Rajasthan Global Securities Private Limited. The promoters of the company are Sukesh Chandra Naithani and Praveen Kapoor.

Also Read: Sameera Agro And Infra Limited IPO: Check GMP, subscription status on day 1, other key details

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.

Trident Techlabs IPO GMP Today

Trident Techlabs GMP today or grey market premium is 40. This indicates Trident Techlabs share price were trading at a premium of 40 in the grey market on Thursday, according to investorgain.com.

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 per cent higher than the IPO price of 35.

According to investorgain.com, the lowest GMP is Re 0, while the highest GMP is 45. 'Grey market premium' indicates investors' readiness to pay more than the issue price.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 21 Dec 2023, 08:53 PM IST
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