Technocraft Ventures IPO opens today; GMP signals 5% premium. Should you subscribe?
The issue comprises a fresh issue of 95 lakh shares worth Rs 201.51 crore and an offer for sale (OFS) of 24 lakh shares valued at Rs 50.37 crore.
The company has fixed the price band at Rs 200-Rs 212 per share, with a lot size of 70 shares. At the upper end of the price band, retail investors will need a minimum investment of Rs 14,840 for one lot.
Following the close of the issue on August 11, the share allotment is expected to be finalised on August 12, while the stock is tentatively scheduled to make its NSE and BSE debut on August 14.
Khambatta Securities is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
With a positive grey market premium indicating decent demand, investors will now watch whether the IPO attracts strong subscription across retail, institutional, and non-institutional categories.
Technocraft Ventures IPO GMP today
The grey market sentiment around the Technocraft Ventures IPO remains positive, with the latest GMP (Grey Market Premium) indicating an 5% premium or Rs 11 per share over the upper price band of Rs 212. Based on the current GMP, the estimated listing price of the IPO is around Rs 223 per share.
Technocraft Ventures IPO: Where will the funds be used?
The company plans to primarily utilise the IPO proceeds to strengthen its working capital position. Around Rs 150 crore has been earmarked for meeting working capital requirements, which will help support business expansion, improve operational efficiency, and provide additional financial flexibility. Any remaining funds from the issue will be deployed towards general corporate purposes.
About Technocraft Ventures
Established in October 1998, Technocraft Ventures Ltd. is an infrastructure development company engaged in turnkey Engineering, Procurement, and Construction (EPC) projects. The company executes infrastructure projects largely for state governments and government agencies across northern India, including Uttar Pradesh, Uttarakhand, Rajasthan, and the National Capital Territory of Delhi.
Its services cover a wide range of areas: water and wastewater infrastructure, roads and highways, urban infrastructure, and trenchless and micro-tunnelling works. The company has executed projects under schemes including AMRUT, JNNURM, UIDSST, Namami Gange, JJM, and PMGSY.
The company has experience implementing ADB-funded infrastructure projects with rigorous technical and environmental standards.
As of May 31, 2026, Technocraft Ventures employed 170 full-time staff, including 78 engineers, across functions such as engineering, procurement, finance, safety, business development, and administration.
Strong financial performance
Technocraft Ventures reported healthy growth in FY26, with total income rising 23% year-on-year to Rs 347 crore from Rs 281 crore in FY25. Profitability also improved significantly; profit after tax (PAT) jumped 54% to Rs 43.32 crore in FY26, compared with Rs 28.20 crore in the previous fiscal year, highlighting stronger operational performance.
Should you subscribe to Technocraft Ventures IPO?
According to a research report by Anand Rathi, Technocraft Ventures is valued at a P/E multiple of 19.4x at the upper price band, based on its FY26 annualised EPS of Rs 14.39. The post-issue market capitalisation is estimated at around Rs 8,397 million.
The brokerage highlighted the company’s diversified order book, expanding geographical presence, and integrated EPC capabilities as key positives that provide long-term growth visibility. However, compared with listed peers, the IPO valuation appears fairly priced rather than discounted.
Anand Rathi has assigned a “Subscribe – Long Term” rating to the IPO, citing growth potential and business fundamentals.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
