Technocrats Plasma Systems Ltd. made a strong stock market debut on Friday, opening at Rs 230 per share on the BSE, a 74.24% premium to its initial public offering price of Rs 132. The stock opened Rs 98 above its issue price.
The initial public offering of Technocrats Plasma Systems was subscribed 189.22 times on the final day of bidding on Aug. 18. The issue received bids for 62.56 crore shares against 33.06 lakh shares on offer.
Qualified institutional buyers subscribed to their portion 169.54 times, while the non-institutional investor category was booked 231.35 times. The retail portion was subscribed 176.05 times.
The Rs 60.98-crore IPO was priced in a band of Rs 125 to Rs 132 per share. Retail investors were required to bid for a minimum of 2,000 shares, or two lots, translating into an investment of Rs 2.64 lakh at the upper end of the price band.
Rarever Financial Advisors Pvt. Ltd. is the book-running lead manager to the issue, while Maashitla Securities Pvt. Ltd. is the registrar.
Technocrats Plasma Systems reported a 166% year-on-year rise in total income in FY26, while profit after tax increased 84%.
The company plans to use Rs 8.79 crore from the fresh issue proceeds to purchase and install plant and machinery for manufacturing plasma cutting machines, welding equipment and customised automation systems at its existing premises. Another Rs 40 crore will be used to fund long-term working capital requirements, with the remaining proceeds earmarked for general corporate purposes.
Incorporated in 1994, Technocrats Plasma Systems Ltd. is an engineering company providing plasma-based surface treatment and coating solutions for industrial applications. Its services include system customisation, installation, commissioning, maintenance support and technical consulting across manufacturing sectors.
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