Trident Techlabs, a technology firm providing solutions to defence, automotive, aerospace and semiconductor industries, opened its initial public offering (IPO) for subscription on Thursday.
The IPO is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares.
Book building is the method of deciding the price of shares based on the demand. The price of shares is decided with the assistance of merchant banks.
The IPO’s price band has been set at ₹33-35 per share, and the subscription closes on December 26. The minimum lot size for an application is 4,000 shares.
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Trident Techlabs IPO GMP
The shares of Trident Techlabs are trading at a premium of ₹40 in the grey market. It is expected that the estimated listing price would be ₹75, 114 per cent more than the issue price.
Trident Techlabs IPO allotment
The IPO allotment of Trident Techlabs is expected to be finalised on December 27, and the issue is expected to be listed on the National Stock Exchange on December 29.
GYR Capital Advisors Private Limited is the book-running lead manager of the IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Trident Techlabs IPO is Giriraj Stock Broking.
According to a Mint report, the company is planning to utilise funds from the IPO for consulting and technical services in system-level electronic design, chip-level electronic design, embedded design, hydraulic/pneumatic systems, system modelling, reliability and quality etc.
