Trident Techlabs Sets IPO Price Range at ₹33-35 per Share, Subscription to Open on December 21

Trident Techlabs IPO Announces Price Band of ₹33-35 Per Share

Trident Techlabs, a leading provider of custom technology solutions for various industries, has revealed the price band for its Initial Public Offering (IPO), setting it in the range of ₹33 to ₹35 per share. The eagerly anticipated IPO is scheduled to open for subscription on December 21 and will remain open until December 26, giving investors a chance to acquire a stake in the company. The lot size for the Trident Techlabs IPO has been fixed at 4,000 shares, with investors allowed to bid for a minimum of 4,000 shares and in multiples thereof.

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The allocation to anchor investors for Trident Techlabs IPO is slated for Wednesday, December 20. The cap price for the IPO is set at 3.5 times the face value of the equity shares. Based on the diluted earnings per share (EPS) for the fiscal year ending March 2023, the price/earnings ratio for the company at the upper end of the price band is calculated to be 7.42.

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Trident Techlabs specializes in delivering tailored technology solutions to businesses operating in diverse sectors, including semiconductor, automotive, telecom, aerospace, defense, and power distribution. The company operates through two distinct business verticals, namely Power System Solutions and Engineering Solutions, leveraging its industry expertise to assist clients in building profitable and flexible organizations, thereby achieving positive business outcomes.

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One noteworthy aspect highlighted in the company’s Red Herring Prospectus (RHP) is that there are no listed companies in India with a business profile closely resembling that of Trident Techlabs.

Trident Techlabs IPO Details:

  • Issue Type: Fresh issue of 4,580,000 equity shares (No Offer for Sale component)
  • Issue Size: ₹16.03 crore
  • Registrar: Maashitla Securities Private Limited
  • Book Running Lead Manager: GYR Capital Advisors Private Limited
  • Market Maker: Giriraj Stock Broking
  • Use of Proceeds: The net proceeds from the IPO will be utilized for general corporate purposes and the company’s working capital requirements.

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Allocation Breakdown:

  • Not more than 50% of the shares in the public issue are reserved for qualified institutional buyers (QIB).
  • Not less than 15% is allocated for non-institutional investors (NII).
  • Not less than 35% of the offer is reserved for retail investors.
  • The market maker portion allocated is up to 3,60,000 equity shares, representing 7.86% of the issue.

The basis of allotment of shares for the Trident Techlabs IPO is tentatively set to be finalized on December 27, with the company initiating refunds on December 28. Shares are expected to be credited to the demat accounts of allottees on the same day following the refund process. Trident Techlabs share price is likely to be listed on the NSE SME on Friday, December 29.

Also See: Upcoming IPO in India

As of the latest reports, the Grey Market Premium (GMP) for Trident Techlabs IPO stands at ₹0, indicating that shares are currently trading at their issue price of ₹35, with no premium or discount in the grey market, according to investorgain.com.

Trident Techlabs IPO

Investors and market observers are eagerly awaiting the subscription period to begin, with high expectations for the Trident Techlabs IPO. The offering is seen as a significant development in the Indian tech industry, and its performance in the market will be closely monitored.

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