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

Trident Techlabs, which provides technology-based solutions to the aerospace, defence, automotive, telecommunications, semiconductor, and power distribution industries, will open for subscription on December 21, 2023 and close on December 26, 2023.

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. 

It is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares.

The allotment for the Trident Techlabs IPO is expected to be finalised on Wednesday, December 27, 2023. Trident Techlabs IPO will list on NSE SME with a tentative listing date fixed as Friday, December 29, 2023.

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.

Around 50% of the net issue is reserved for QIB investors, not less than 35% of the issue is reserved for retail investors and not more than 15% is reserved for NIIs.

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 Limited's revenue increased by 128.4% and profit after tax (PAT) rose by 760.3% between the financial year ending with March 31, 2023 and March 31, 2022.

Trident Techlabs IPO GMP today

Shares of Trident Techlab are available for trade in unlisted markets. According to stock market observers, Trident Techlabs shares are available at a premium of ₹40 in the grey market today.