Ahead of the listing, the IPO was commanding a grey market premium (GMP) of around 17%, indicating expectations of a strong debut.
The ₹251.88-crore initial public offering (IPO) of Technocraft Ventures, which was open for subscription from August 7 to August 11, was subscribed 38.69 times overall.
The non-institutional investors (NII) portion saw the strongest demand, with the category subscribed 65.06 times. The qualified institutional buyers (QIB) portion was subscribed 42.26 times, while the retail portion was subscribed 25.35 times.
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The IPO comprised a fresh issue of 95.05 lakh equity shares and an offer for sale (OFS) of 23.76 lakh shares by promoter entity Kartikey Constructions.
Technocraft Ventures plans to use the net proceeds from the fresh issue primarily to meet its working capital requirements, with the balance earmarked for general corporate purposes. The original offer documents had proposed allocating ₹138 crore towards working capital requirements.
Ahead of the IPO, Technocraft Ventures raised ₹75.55 crore from anchor investors on August 6, a day before the issue opened. The company allotted 35.63 lakh equity shares to anchor investors at ₹212 apiece.
The anchor book included investors such as LRSD Securities, Vikasa India EIF I Fund, Nakshatra Bharat Vantage Fund and Venus Stellar Fund.Technocraft Ventures reported a 53.6% year-on-year increase in net profit to ₹43.3 crore in FY26, from ₹28.2 crore in FY25.
Revenue from operations rose 23.4% year-on-year to ₹345 crore in FY26, from ₹279.6 crore in FY25.
The company had an unexecuted order book worth ₹1,320.7 crore as of July 15, 2026, providing visibility for future project execution.
Technocraft Ventures is a public infrastructure development company that undertakes turnkey engineering, procurement and construction (EPC) projects. Its business spans water supply, wastewater treatment, operation and maintenance of public utilities, electrical transmission and distribution, roads and highways, among other infrastructure activities.
