Trident Techlabs, after a stellar IPO subscription rate, saw a premium of 180 percent on its share price on December 29. The listing day of Trident Techlabs is today, and the share prices have delivered a higher premium than expected.
Delivering a strong start on the stock market, Trident Techlabs share price listed at ₹98.15 on NSE SME on Friday morning, showing gains over 180 percent of the issue price band. The initial public offering (IPO) of the company was launched at a price of ₹35 per share.
The grey market premium of Trident Techlabs IPO was ₹40, which put the predicted price of the shares at ₹75 on listing day. However, Trident shares surpassed all barriers, marking up a premium of over 180 percent on its inaugural stock market session.
Trident Techlabs IPO, launched to raise ₹16 crore in fresh issue, was subscribed over 700 times at close. Meanwhile, the retail investor category in the issue breached the 1000x subscription mark, and NII section was subscribed 854 times.
The entire IPO consisted of a fresh issue offer of 45.8 lakh shares, set to raise ₹16 crore. Trident Techlabs launched its issue on December 21, and closed subscriptions on December 26.
IPOs listed on share market today
Not just Trident Techlabs, but a total of three more IPOs were listed on the stock market today. However, Trident stood a class apart after having its shares listed at over 180 percent premium against the issue price.
The least performing share among the four IPOs was Innova Captab, which was listed at a price of ₹456, barely one percent above the issue price of ₹448. It was predicted that Innova Captab would be listed at ₹500, as per the GMP, but the shares fell flat on opening day.
The other two IPOs listed on NSE SME today were Indifra, with a share price of ₹72 against the issue price of ₹65, and the Supreme Power Equipment, with a share price of ₹98 against the issue price of ₹65.