Trident Techlabs IPO: Investors have responded overwhelmingly to Trident Techlabs Ltd.’s initial public offering, which opened for subscription on Thursday. The SME IPO got 55.16 times the subscription up to 11:00 am on Friday, the second day of bidding, resulting in offers for 16,63,60,000 shares as opposed to 30,16,000 shares.
The retail individual investor (RII) quota was subscribed to 96.17 times, compared to 25.08 times for the non-institutional investor category. 1.05 times as many qualified institutional buyers (QIBs) as available quota were subscribed.
The public might sign up for the Rs 16.03-crore initial public offering (IPO) on Thursday, December 21. December 27 is the day of the IPO allotment, and December 29 is the date of the SME NSE listing.
GMP for Trident Techlabs’ IPO Today
Market watchers report that unlisted shares of Trident Techlabs Ltd. are now selling on the grey market for Rs 40 more than the company’s issue price. Given the public issue, the grey market anticipates a listing gain of 114.29%, as indicated by the Rs 40 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay above the issue price is shown by the “grey market premium.”
Details about Trident Techlabs’ IPO
45.8 lakh shares are being issued fully new in the Trident Techlabs IPO. The IPO’s price range is set at Rs. 33–Rs. 35 per share.
An application must have a minimum lot size of 4,000 shares. Retail investors are needed to invest a minimum of Rs 1,40,000. For HNIs, the minimum lot size investment is two lots (equivalent to 8,000 shares), or Rs 2,80,000.
The registrant of the Trident Techlabs IPO is Maashitla Securities Private Limited, while the book-running lead manager is GYR Capital Advisors Private Limited. Giriraj Stock Broking is the market maker for Trident Techlabs IPO.
Founded in 2000, Trident Techlabs Limited offers technology-driven solutions to the power distribution, semiconductor, automotive, aerospace, and defense sectors.
Trident Techlabs’s revenue was Rs 68.24 crore and its profit after tax was Rs 5.54 crore for the fiscal year 2022–2023.
