Technocraft Ventures makes strong debut, shares list at 34% premium
Technocraft Ventures shares opened at ₹284 on the NSE, with a premium of ₹72 or 33.96 per cent over the IPO issue price of ₹212.
 "Technocraft Ventures makes strong debut, shares list at 34% premium")
Technocraft Ventures share price: Technocraft Ventures shares made a strong debut on the bourses on Thursday, delivering a listing gain of nearly 35 per cent to IPO investors.
The shares opened at ₹284 on the NSE, with a premium of ₹72 or 33.96 per cent over the IPO issue price of ₹212.
On the BSE, the stock listed at ₹285, up ₹73 or 34.43 per cent. Post-listing, the counter extended its gains, hitting a high of ₹334.60, up 57 per cent from the IPO level. As of 11 AM, the counter traded firmly in the green, at ₹317.
Following the listing, Technocraft Ventures commanded a market capitalisation of ₹1,128.78 crore, according to BSE data.
The debut was significantly ahead of grey market premium (GMP) estimates, which had indicated a listing gain of around 18 per cent.
Technocraft Ventures: Should you buy after listing?
Shivani Nyati, head of wealth at Swastika Investmart, said that at a P/E of around 14.73x, Technocraft Ventures remains attractively valued relative to most listed peers, while healthy revenue growth, profitability and return ratios strengthen its fundamentals. "With continued government focus on water and infrastructure development, the company is well positioned to benefit from the sector's growth. We maintain a Positive view and suggest a stop-loss at ₹260," Nyati said.
Ravi Singh, chief research officer from Master Capital Services, said that Technocraft Ventures works across various infrastructure verticals such as Water & Wastewater Infrastructure that includes Water Supply Scheme Projects (WSSPs), Sewerage Networks, Sewerage Treatment Plants (STPs), Wastewater Treatment Plants (WWTPs), Transmission mains, Reservoirs, Trenchless & Micro tunneling Works, Roads and Highways, Electrical Transmission, Urban Infrastructure including sector-level planning and execution of residential building projects, and Operation and Maintenance (O&M) of public utilities. The construction industry is expected to grow at 5-7 per cent CAGR annually from FY2026 to FY2031, driven by ongoing investments in programs like Jal Jeevan Mission, AMRUT and Swachh Bharat Mission.
The water and wastewater infrastructure segment is anticipated to attract investments of ₹7.4-7.8 trillion during FY2027-FY2031, which is approximately 1.55-1.65x higher than the previous five-year period.
"After a strong listing, the returns in future will be more dependent on earnings delivery than the IPO story. Investors may see quarterly growth, cash flows, order execution and new project wins before drawing stronger conclusions about whether the premium valuation can be sustained," he said. Technocraft Ventures’ IPO comprised a fresh issue of 9.50 million shares and an offer for sale (OFS) of 2.40 million shares.
The price band for the issue was fixed between ₹200 and ₹212 per equity share. The company received 38.69 times subscription for its ₹251.88 crore public issue.
Of the fresh issue proceeds, the company has said that ₹150 crore will be used to fund the working capital requirements, while the remaining amount will be utilised for general corporate purposes and offer-related expenses.
Incorporated in 1998, Technocraft Ventures is an engineering, procurement and construction (EPC) company engaged in public infrastructure projects. Its operations span water and wastewater infrastructure, roads and highways, electrical transmission, urban infrastructure, and operation and maintenance of public utilities.
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