Trident Techlabs share price is at ₹98.15 on NSE SME – an excellent premium of 180% over the issue price

The Trident Techlabs share price got off to an excellent start and was up 180% from the issue price ₹98.15 on the NSE SME.

Small and Medium Enterprises (SME) IPO Trident Techlabs received strong response from investors and the issue was subscribed 502.64 times on the third and final day of offering.

Trident Techlabs' GMP or gray market premium was at ₹40. This suggests that Trident Techlabs' share price was trading at a premium of ₹40 on the gray market on Wednesday, according to investorgain.com.

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Taking into account the upper end of the IPO price range and the current gray market premium, the estimated list price is ₹75 per piece, which is 114.29 percent higher than the IPO price of ₹35.

According to investorgain.com, the lowest GMP is Re 0 while the highest GMP is Re 0 ₹40. “Grey market premium” indicates the willingness of investors to pay more than the issue price.

The Trident Techlabs IPO was open for subscription on December 21st and closed on Tuesday, December 26th. The price range for Trident Techlabs' IPO had been set at ₹33 to ₹35 per share. The minimum lot size for registration is 4,000 shares. The minimum investment amount required by private investors is ₹140,000.

The Trident Techlabs IPO was a book edition of ₹16.03 crores. The issue was entirely a fresh issue of shares worth Rs 45.8 lakh.

The company proposed to use the net proceeds for consulting and technical services in the areas of system-level electronics design, chip-level electronics design, embedded design, hydraulic/pneumatic systems, system modeling, reliability and quality, design automation, power electronics, PCB design. and electromagnetic simulations.

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Trident Techlabs provides technology-based solutions to the aerospace, defense, automotive, telecommunications, semiconductor and power distribution industries. The company has two verticals: engineering solutions and energy system solutions.

GYR Capital Advisors Private Limited was the underwriter of the IPO of Trident Techlabs while Maashitla Securities Private Limited was the registrar for the issue. The market maker for Trident Techlabs IPO was Giriraj Stock Broking.

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