Unlisted shares of Trident Techlabs Ltd are currently trading Rs 40 higher in the grey market, which is a 114.29 per cent listing gain from the public issue
Trident Techlabs IPO: The initial public offering of Trident Techlabs Ltd, which opened for public subscription on Thursday, has received a whopping response from investors. Till 11:00 am on the second day of bidding on Friday, the SME IPO received 55.16 times subscription, garnering bids for 16,63,60,000 shares as against 30,16,000 shares.
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The category meant for non-institutional investors received 25.08 times subscription, while the quota for retail individual investors (RIIs) got subscribed 96.17 times. The quota for qualified institutional buyers (QIBs) got subscribed 1.05 times.
The Rs 16.03-crore IPO was opened for public subscription on Thursday, December 21. The IPO allotment will take place on December 27, while its listing will take place on December 29 on the SME NSE.
Trident Techlabs IPO GMP Today
According to market observers, unlisted shares of Trident Techlabs Ltd are currently trading Rs 40 higher in the grey market as compared with its issue price. The Rs 40 grey market premium or GMP means the grey market is expecting a 114.29 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
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‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Trident Techlabs IPO Details
The Trident Techlabs IPO is entirely a fresh issue of 45.8 lakh shares. The price band of the IPO has been fixed at Rs 33-Rs 35 per share.
The minimum lot size for an application is 4,000 shares. The minimum amount of investment required by retail investors is Rs 1,40,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to Rs 2,80,000.
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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.
Trident Techlabs Limited, which was incorporated in 2000, provides technology-based solutions to the aerospace, defence, automotive, telecommunications, semiconductor, and power distribution industries.
Trident Techlabs’s profit after tax in the financial year 2022-23 stood at Rs 5.54 crore and its revenue was at Rs 68.24 crore.
