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Business News/ Markets / Ipo/  Ztech India IPO price band set at 104 - 110 per share; issue to open on May 29
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Ztech India IPO price band set at ₹104 - 110 per share; issue to open on May 29

Ztech India IPO price band has been fixed at ₹104 to ₹110 per share, while the IPO lot size is 1,200 shares. The minimum investment amount required by retail investors is ₹132,000.

Ztech India IPO opens for public subscription on May 29 and will close on May 31. (Image: Company Website)Premium
Ztech India IPO opens for public subscription on May 29 and will close on May 31. (Image: Company Website)

Ztech India IPO: Civil engineering products designer Ztech India is set to launch its initial public offering (IPO) on Wednesday, May 29. Ztech India IPO is an SME IPO and is entirely a fresh issue of 33.91 lakh equity shares.

The bidding for the Ztech India IPO will conclude on Friday, May 31, and the IPO allotment is expected to be finalized on June 3. The equity shares of Ztech India will be listed on NSE SME and the listing date is fixed as on June 4.

Ztech India IPO price band has been fixed at 104 to 110 per share, while the IPO lot size is 1,200 shares. The minimum investment amount required by retail investors is 132,000. 

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Narnolia Financial Services Ltd is the book running lead manager of the Ztech India IPO, while Maashitla Securities Private Limited is the IPO registrar.

The company plans to utilise the net issue proceeds to meet the working capital requirements and general corporate purposes.

Sanghamitra Borgohain and M/s Terramaya Enterprises Pvt Ltd are the promoters of Ztech India. The promoter shareholding in the company will reduce to 60.75% from 82.65% after the IPO.

Ztech India is involved in the waste management sector and focuses on creating theme parks using recycled scrap materials. The company provides eco-friendly engineering solutions in Sustainable Theme Park Development, Industrial Wastewater Management, and Geotechnical Specialized Solutions.

Also Read: Hyundai Motor India IPO: Kotak, Morgan Stanley likely to be advisors for India’s biggest IPO - Report

“We've achieved significant milestones in Sustainable Theme Park Development, Waste Water Management, and Geo Technical Solutions, with over 30 successful projects under our belt and numerous ongoing initiatives. Looking ahead, we're excited to diversify into Fast Forward Sports Arena and Pet Parks within our theme park segment, expand internationally, and explore the creation of Waste to Art Products," said Sanghamitra Borgohain, Managing Director of Z-Tech (India) Limited.

The company is also exploring expansion through a BOO model and entering untapped technical areas within Geo Technical Solutions, alongside domestic geographical expansion, Borgohain added.

Ztech India’s net profit in FY24 increased to 7.79 crore from 1.96 crore in FY23, while its revenue in FY24 jumped to 67.37 crore from 25.88 crore YoY.

Ztech India IPO GMP

Ztech India IPO GMP today, or grey market market premium today, is 65 per share, as per stock market observers. This indicates that the equity shares of Ztech India are trading at 175 per share in the grey market, a premium of 59.09% to the issue price of 110 per share.

Read all IPO news here

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Published: 27 May 2024, 12:23 PM IST
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