New Delhi: In a spectacular display of investor enthusiasm, the initial public offering (IPO) of Trident Techlabs Ltd is set to close on Tuesday, December 26, having already received a staggering response.
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As of 11:20 am on the final bidding day, the Rs 16.03-crore SME IPO has been oversubscribed by a remarkable 204.92 times, with bids pouring in for 61,80,52,000 shares compared to the available 30,16,000 shares.
The IPO, which opened for public subscription on December 21, Thursday, has seen particular fervor in specific investor categories.
Non-institutional investors have subscribed 140.42 times, while retail individual investors (RIIs) have gone above and beyond, subscribing an impressive 337.41 times. Qualified institutional buyers (QIBs) have shown interest as well, with a subscription rate of 3.11 times.
Trident Techlabs IPO: Allotment And Listing Date
The IPO allotment is scheduled for December 27, and the listing on the SME NSE is slated for December 29.
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Grey Market Premium (GMP) Today: Positive Indications for Trident Techlabs
In the grey market, unlisted shares of Trident Techlabs Ltd are currently trading at Rs 50 higher than the issue price. This Rs 50 grey market premium signifies a substantial 142.86 percent listing gain expectation from the public issue. It’s important to note that the GMP is fluid and subject to market sentiments.
The ‘grey market premium’ essentially reflects investors’ willingness to pay a premium over the issue price.
Trident Techlabs IPO: Details
The Trident Techlabs IPO consists entirely of a fresh issue of 45.8 lakh shares, with a price band set at Rs 33-Rs 35 per share.
The minimum lot size for an application is 4,000 shares, requiring a minimum investment of Rs 1,40,000 for retail investors. High net worth individuals (HNIs) are required to invest in a minimum of 2 lots (8,000 shares), amounting to Rs 2,80,000.
