- LEAP India and Technocraft Ventures IPOs listed on the NSE
- Technocraft Ventures debuted with a significant 33% gain.
- LEAP India shares opened at a 4.3% premium.
The shares of LEAP India and Technocraft Ventures-- recently concluded Initial Public Offerings (IPOs)---- made their stock market debut on Friday, August 14. Technocraft Ventures share price started trading at Rs 284, showing a listing gain of 33.96 per cent as compared to the IPO price of Rs 212 on the NSE.
At the same time, LEAP India shares debuted at a premium of over 4 per cent. The shares started trading at Rs 165.9 on the NSE, up 4.3 per cent from their IPO price of Rs 159 per share.
On BSE, the LEAP India shares debuted at Rs 166, up 4.40 per cent, while Technocraft Ventures share price debuted at Rs 285, up 34.43 per cent premium.
Earlier, both the share sales concluded their subscription period on a high note on August 11. Rs 251.88 crore Technocraft Ventures IPO's was subscribed 38.69 times, while LEAP India's Rs 2,480 crore share sale was subscribed 8.38 times.
LEAP India IPO And Listing Details
Following its market debut, the total market valuation of LEAP India was approximately Rs 7,312.91 crore.
The listing price fell short of the premiums suggested by grey market trends before the launch. According to data from IPO Watch and Investorgain, LEAP India shares were trading at a grey market premium (GMP) of roughly Rs 13, or near 8 per cent, before entering the exchange.
The Rs 2,480-crore public issue saw a subscription rate of 8.38 times during the three-day window from August 7 to August 11. Official exchange figures indicate that investors submitted applications for 96,32,58,796 equity shares, significantly exceeding the 11,49,91,735 shares available.
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Listing Specifics for Technocraft Ventures IPO
Technocraft Ventures outperformed grey market forecasts, which had predicted listing returns of approximately 20 per cent.
The company had previously secured Rs 75.55 crore through its anchor investor allocation.
From the capital raised through the new shares, Rs 150 crore is earmarked for working capital needs, while the remaining funds are designated for general corporate objectives and the costs associated with the public offer.