Technocraft Ventures delivered an impressive market debut on Friday, listing at a 34.4% premium on BSE at ₹285 and 34% premium on NSE at ₹284, significantly above its IPO price of ₹212. According to reports from The Hindu BusinessLine, the stock jumped to ₹334.40 on NSE after listing, achieving 58% listing gains. In contrast, LEAP India made a more modest debut, listing at a 4.4% premium on BSE at ₹166 and 4.3% premium on NSE at ₹165.90, above its offer price of ₹159.
Technocraft Ventures' ₹251.88-crore IPO received exceptional investor response with 38.69 times subscription on the final day. As reported by The Hindu BusinessLine, the issue received bids for 32,17,81,040 shares against 83,17,190 shares on offer. The non-institutional investors' quota was subscribed 65.06 times, while Qualified Institutional Buyers (QIBs) received 42.26 times subscription and retail investors subscribed 25.35 times. The company raised ₹75.55 crore from anchor investors and fixed a price band of ₹200-212 per share.
LEAP India's ₹2,480-crore IPO was subscribed 8.38 times overall, with the company mobilising ₹743.62 crore from institutional investors including Smallcap World Fund and Monetary Authority of Singapore. According to The Hindu BusinessLine, the IPO comprised a fresh issue of ₹480 crore and an offer for sale worth ₹2,000 crore. The price band was set at ₹151-159 per share, with QIBs bidding for 16.84 times and non-institutional investors receiving 12.64 times subscription.
Technocraft Ventures plans to use ₹150 crore from fresh issue proceeds for working capital requirements, with remaining funds allocated for general corporate purposes. As reported by The Hindu BusinessLine, the company's IPO comprised a fresh issue of up to 95.05 lakh equity shares and an offer for sale of up to 23.76 lakh shares by promoter Kartikey Constructions. LEAP India will utilise fresh issue proceeds for debt repayment and working capital requirements, having raised approximately ₹371.3 crore through pre-IPO placement with Singapore's GIC subsidiary and Dymon Asia Multi-Strategy Investment.
Technocraft Ventures was led by Khambatta Securities as book-running lead manager, while LEAP India had JM Financial, Avendus Capital, IIFL Capital Services, and UBS Securities India as book-running lead managers. According to The Hindu BusinessLine, NSE India congratulated Leap India Limited on its listing on NSE, with the company specialising in sustainable supply chain and asset-pooling solutions. The strong performance of Technocraft Ventures demonstrates robust investor confidence in the infrastructure sector, while LEAP India's muted debut reflects more measured investor sentiment towards the supply chain asset pooling space.
