Unlisted shares of Ztech India Limited are trading Rs 75 higher in the grey market, expecting a 68.18 per cent listing gain from the public issue.
Read More: Bharat Rasayan Shares Rise 17% To Hit 52-Week High After Robust Q4 Results
Ztech India IPO: The initial public offering of Ztech India Ltd, which closes on Friday, has received a whopping response from investors. Till 11:57 pm on the final day of bidding on Friday, the Rs 37.30-crore SME IPO received an overwhelming 103.29 times subscription, garnering bids for 23,30,13,600 shares as against 22,56,000 shares on offer.
The retail category has received a 141.58 times subscription, while the non-institutional investor (NII) category got a 140.83 times subscription. The QIB category received an 8.09 times subscription.
The Ztech India IPO was opened for public subscription on May 29. The Ztech India IPO allotment will likely be finalised on June 3, while the listing will take place on June 4 on the NSE SME.
The price of the IPO was fixed at Rs 104-110 per share.
Ztech India IPO GMP Today
According to market observers, unlisted shares of Ztech India Limited are trading Rs 75 higher in the grey market as compared with its issue price. The Rs 75 grey market premium or GMP means the grey market is expecting a 68.18 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Read More: Indian Bank hits all-time high after S&P Global revises outlook to ‘positive’
About Ztech India IPO
The Ztech India IPO is entirely a fresh issue of 33.91 lakh shares. Ztech India IPO opened for public subscription on May 29, 2024, and closes today, May 31, 2024.
The price band of the IPO was fixed at Rs 104 to Rs 110 per share. The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,32,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 264,000.
Narnolia Financial Services Ltd is the book-running lead manager of the Ztech India IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Ztech India IPO is Nvs Brokerage.
Ztech India Ltd’s revenue jumped 160.28 per cent and its profit after tax (PAT) rose 296.44 per cent between the financial year ending with March 31, 2024 and March 31, 2023.
Z-Tech (India) Limited, established in November 1994, designs civil engineering products and provides state-of-the-art speciality Geo-Technical Solutions for infrastructure and civil construction projects in India.
Read More: Stock Market Updates: Sensex Jumps 500 Points, Nifty Above 22,600; Zomato Falls 5%
The company is actively involved in the waste management sector, focusing on creating theme parks using recycled scrap materials.
