Grey market trends indicate stronger listing expectations for LEAP India, with an estimated premium of 7%, while Technocraft Ventures is also attracting healthy investor interest with a projected gain of 8%.
| IPO | GMP | Expected Listing Gain |
| LEAP India | Rs 11 | 6.92% |
| Technocraft Ventures | Rs 16 | 7.55% |
The Technocraft Ventures IPO was fully subscribed on Day 1 with investors bidding for 1.68 times the number of shares offers, whereas the LEAP India IPO was subscribed 0.06 times on Day 1, as per data from BSE at 1:30 p.m.
According to grey market trends, LEAP India is currently commanding a estimated listing gain percentage over its upper price band, driven by strong sentiment surrounding its KKR-backed business model. At the same time, Technocraft Ventures is also witnessing positive traction with a strong upward trajectory in its grey market premium.
The public issues of LEAP India and Technocraft Ventures opened for subscription today, with investors able to place bids through Aug. 11. Both IPOs are expected to finalise allotments on Aug. 12 and list on the BSE and NSE on Aug. 14.
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Investors are closely tracking subscription levels and grey market premium (GMP) trends for clues on potential listing performance.
Here's a closer look at the latest GMP and key IPO details for both issues.
LEAP India IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for LEAP India stood at Rs 11 on Aug. 7. With the upper price band fixed at Rs 159, the estimated listing price for the issue is Rs 170 per share, indicating potential listing gains of 6.92%.
LEAP India IPO Details
The IPO of LEAP India carries a total size of Rs 2,480 crore, with Rs 480 crore coming from a fresh issue of 3.02 crore shares. The remaining Rs 2,000 crore will be raised through an offer for sale involving 12.58 crore shares. The company has fixed the issue price between Rs 151 and Rs 159 per share, and each lot comprises 94 shares.
To participate in the IPO, retail investors need a minimum investment of Rs 14,946 to purchase at least one lot (at the upper price).
JM Financial Ltd. is the lead manager and MUFG Intime India Pvt. Ltd. is the registrar of this issue.
Founded in 2013, LEAP India specialises in sustainable supply chain asset-pooling solutions, including pallets, foldable containers, and material handling equipment across sectors such as FMCG, e-commerce, and automotive.
Technocraft Ventures IPO GMP Today
On Aug. 7, shares of the Technocraft Ventures IPO were commanding a grey market premium of Rs 16. This suggests an expected listing price of Rs 228, compared with the upper end of the price band at Rs 212, implying a likely listing premium of 7.55%.
Technocraft Ventures IPO Details
Technocraft Ventures has set the overall size of its book-built IPO at Rs 251.88 crore. Of this, Rs 201.51 crore will come from the issuance of 95 lakh new shares, with another Rs 50.37 crore expected through the sale of 24 lakh existing shares. Investors can place bids between Rs 200 and Rs 212 per share, with each lot comprising 70 shares.
At the upper price of the issue, the minimum application for retail investors would amount to Rs 14,840, covering 70 shares.
Khambatta Securities Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Founded in 1998, Technocraft Ventures is an Engineering, Procurement, and Construction (EPC) firm undertaking civil infrastructure projects in water supply, highways, urban planning, and power distribution.
Note: GMP does not represent official data and is based on speculation.
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With both IPOs opening today, investors will watch subscription trends over the next three days to gauge institutional and retail demand ahead of their expected Aug. 14 listing.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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