Technocraft Ventures Limited has set its initial public offering (IPO) price band between ₹200 and ₹212 per equity share, each with a face value of ₹10. The subscription for the IPO will open on August 7 and close on August 11, with anchor investor allocation scheduled for August 6, according to livemint.com.
The IPO will allocate 50% of shares to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 35% to retail investors. The lot size has been fixed at 70 shares per application. The company finalized these details ahead of the subscription period, aiming to attract a broad investor base, as reported by livemint.com.
This IPO comes amid a busy market for public offerings, with Technocraft Ventures positioning itself to raise capital through a well-structured share allocation. The price band aligns with market expectations for companies in its sector, offering investors a defined entry point. The allocation strategy reflects common practices in Indian IPOs, balancing institutional and retail participation, per livemint.com.
Investors can participate in the subscription from August 7 to August 11, with anchor investors receiving allocations a day earlier on August 6. The IPO's progress and subscription status will be closely monitored during this period, as detailed by livemint.com.