Grey market trends favour LEAP India over Technocraft Ventures, with the KKR-backed IPO indicating an estimated listing gain of 9.12%, compared with 7.08% for Technocraft Ventures. The two issues which opened for subscription today will remain open until Aug. 11.
While Technocraft Ventures has already been fully subscribed on Day 1, LEAP India is yet to cross full subscription despite enjoying a stronger grey market premium.
| IPO | GMP | Expected Listing Gain |
| LEAP India | Rs 14.5 | 9.12% |
| Technocraft Ventures | Rs 15 | 7.08% |
Both IPOs are expected to finalise allotments on Aug. 12 and list on the BSE and NSE on Aug. 14.
Here's a closer look at the latest GMP and key IPO details for both issues.
LEAP India IPO GMP Today
The grey market premium (GMP) for LEAP India stood at Rs 14.5 on Aug. 7. With the upper price band fixed at Rs 159, the estimated listing price for the issue is Rs 173.5 per share, indicating potential listing gains of 9.12%.
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LEAP India IPO Subscription
As of the close of Day 1, the IPO was subscribed 0.26 times.
- Qualified Institutional Buyers (QIBs): 0.61 times
- Non-Institutional Investors(NIIS): 0.11 times
- Retail Individual Investors (RIIs): 0.13 times
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.
LEAP India provides pallet pooling and reusable packaging solutions that help companies optimise logistics across FMCG, retail, automotive and e-commerce supply chains.
Technocraft Ventures IPO GMP Today
On Aug. 7, shares of the Technocraft Ventures IPO were commanding a grey market premium of Rs 15. This suggests an expected listing price of Rs 227, compared with the upper end of the price band at Rs 212, implying a likely listing premium of 7.08%.
Technocraft Ventures IPO Subscription
As of the close of Day 1, the IPO was subscribed 2.59 times.
- Qualified Institutional Buyers (QIBs): 4.47 times
- Non-Institutional Investors(NIIS): 3.80 times
- Retail Individual Investors (RIIs): 1.00 times
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.
Technocraft Ventures executes EPC projects across water supply, highways, power distribution and urban infrastructure.
Note: GMP does not represent official data and is based on speculation.
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With bidding remaining open until Aug. 11, investors will monitor daily subscription data alongside changes in the grey market premium to gauge demand before the 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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