Technocraft Ventures shares surge following market debut

Technocraft Ventures Ltd, an engineering, procurement, and construction (EPC) company, saw its shares surge during its market debut. On the BSE, the stock opened at Rs 285, a 34.43 per cent increase from its issue price of Rs 212, and later climbed as much as 57.83 per cent to Rs 334.60. On the NSE, the stock debuted with a 33.96 per cent jump.

The company’s Rs 251.88-crore initial public offering (IPO) was heavily oversubscribed, reaching 38.69 times the available shares. Demand was particularly high among non-institutional investors, who subscribed 65.06 times, and qualified institutional buyers, who subscribed approximately 42.26 times.

Technocraft Ventures, incorporated in 1998, focuses on public infrastructure projects including water, roads, highways, and electrical transmission. The company intends to use Rs 150 crore of the fresh issue proceeds to fund working capital requirements, with the remainder allocated to general corporate purposes and offer-related expenses.