Techknowgreen Solutions IPO Goes Public To Make Greener Future
The Techknowgreen Solutions IPO has been launched. The per equity share price is just ₹86. But before that you must be aware of its business & future scope.
Techknowgreen Solutions has initiated its initial public offering (IPO), which started on September 18, 2023, and will run until September 21, 2023.
The company intends to list its shares on the BSE SME exchange at a fixed price of Rs 86 per equity share. The IPO aims to raise Rs 16.72 crore, and one lot of the IPO comprises 1,600 shares, totaling Rs 1,37,000.
Before the IPO opening, Techknowgreen Solutions’ shares were trading in the unlisted market, with a Grey Market Premium (GMP) currently at ₹25.
The IPO subscription period will be followed by the allocation of shares, scheduled for September 26, 2023. Bigshare Services Pvt Ltd has been appointed as the official registrar for this fixed-price issue.
Techknowgreen Solutions is an environmental consulting firm, and the IPO’s net proceeds will be used for various purposes, including research and development initiatives, infrastructure expansion, hiring, resourcing, repayment of bank loans, and general corporate needs.
The IPO’s subscription period is from September 18 to September 21, with a price band set at Rs 86 per equity share. The Market lot and Trading lot for the Equity Share is 1,600 shares.
Techknowgreen Solutions’ IPO listing date is expected to be on September 29, 2023, when it will debut on Dalal Street.
The company is promoted by Ajay Ramakant Ojha and Prasad Rangrao Pawar, with their pre-issue shareholding in the company at 89.02 percent, which is expected to decrease to 65.58 percent post-listing.
Market participants are closely watching the IPO as it progresses through the subscription period. Currently, Techknowgreen Solutions’ shares are trading in the gray market at a premium of Rs 25.
Analysts suggest that the Techknowgreen Solutions IPO is a significant step for the company. The IPO funding will enhance its capabilities to expand its reach to clients across different industries.
The funding will help the company to invest in R&D, human resources, and infrastructure. The company will also have the ability to execute turnkey projects and stay more competitive in the market.
The entire world is being aware towards sustainability including India. Thus there is huge scope in the sustainability sector for companies like Techknowgreen Solutions.
The company is focused on its primary business model of environmental consultancy. India has been increasing its environmental regulations and sustainability initiatives as a priority across the country.
As the country continues its green journey, the services of Techknowgreen Solutions are likely to gain more demand. Thus you may expect that the company can be a promising venture in the future.