Trident Techlabs IPO: Issue Booked 682 Times on Final Day

Trident Techlabs has opened its IPO for subscription on December 21, 2023 and will close today, December 26, 2023.

About the Company

Trident Techlabs caters to various industries like aerospace, defense, automotive, telecommunications, semiconductor, and power distribution by offering technology-based solutions.

At 5:03 PM, the Rs 16.03-crore SME IPO witnessed a subscription of 682.07 times, gathering bids for 2,05,71,23,296 shares against the offering of 30,16,000 shares. The retail quota experienced an overwhelming subscription of 1,018.98 times.

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Investors from the non-institutional category subscribed 851.91 times, while retail individual investors (RIIs) oversubscribed by 1,018.98 times. Meanwhile, the qualified institutional buyers (QIBs) category witnessed a subscription of 117.91 times.

Price Band & Lot Size

The Trident Techlabs IPO has set its price band at Rs 33 to Rs 35 per share, with a minimum lot size of 4000 shares per application. Retail investors need a minimum investment of Rs 1,40,000. The issue is book-built, amounting to Rs 16.03 crore, offering 45.8 lakh shares exclusively as a fresh issue.

Book Running Lead Managers

In the Trident Techlabs IPO, GYR Capital Advisors Private Limited serves as the book-running lead manager. Maashitla Securities Private Limited acting as the registrar for the issue. Additionally, Giriraj Stock Broking acts as the market maker for the IPO.

Reserved Portion

The allocation reserves approximately 50 percent of the net issue for Qualified Institutional Buyers (QIBs), while ensuring a minimum allotment of 35 percent for retail investors and a maximum of 15 percent for Non-Institutional Investors (NIIs).

Purpose of the Issue

The company intends to utilize the net proceeds for consulting and technical services across various domains including system-level electronic design, chip-level electronic design, embedded design, hydraulic/pneumatic systems, system modeling, reliability and quality, design automation, power electronics, PCB design, and electromagnetic simulations.

Company Financials

Trident Techlabs Limited saw a remarkable 128 percent surge in revenue. It reported a robust 760 percent increase in profit after tax (PAT) from the financial year ending March 31, 2023.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.