Techknowgreen Solutions gains 5% over IPO price post listing on BSE SME

Techknowgreen Solutions shares made a lacklustre debut on September 27, listing at a 1.1% premium on the BSE SME platform. The stock opened at Rs 87 against the IPO price of Rs 86; but soon after the listing, the stock jumped 6.22% over the IPO price, hitting the upper circuit at Rs 91.35. Techknowgreen Solutions' grey market premium (GMP) was Rs 5, implying a listing price of Rs 91. The stock will be available for trading in the trade-for-trade segment, for 10 trading days.

Techknowgreen Solutions’ Rs 16.72-crore IPO was subscribed over 12 times. The IPO was entirely a fresh issue and there was no offer-for-sale component. The offer opened for subscription on September 18 and closed on September 21.

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Promoters Ajay Ramakant Ojha and Prasad Rangrao Pawar’s holding pre-issue was 89.02% and post issue it went down to 65.58%. The lead manager for the issue is Indorient Financial Services and the registrar is Bigshare Services. Alacrity Securities is the market maker for the IPO.