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Listed
Other Utilities
Technocraft Ventures Limited IPO
₹252 Cr · Fresh Issue & OFS · Other Utilities
Price Band
₹200 – ₹212
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹252 Cr
Fresh Issue & OFS
Market Cap
₹839.65 Cr
At upper band
P/E Ratio
19.4x
P/S: 2.4x
Listing Date
14 Aug 2026
BSE & NSE
IPO Timeline
✓
Opens
07 Aug 2026
✓
Closes
11 Aug 2026
✓
Allotment
12 Aug 2026
✓
Refund
13 Aug 2026
✓
Listing
14 Aug 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.84× sector midpoint with a 50.8% PAT CAGR and 27.72% ROCE, indicating strong operational execution and capital efficiency. Key risk is SME liquidity and the 20% OFS component, which may signal partial promoter exit despite 70% post-issue holding.
Listing Performance
Issue Price
₹212
Allotment price
Listing Price
₹285
+34.43% on listing day
Current Price (CMP)
₹439
+107.1% vs issue
Listed On
14 Aug 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit has grown at 50.8% CAGR over two years, from ₹19.1 Cr to ₹43.3 Cr, while revenue expanded 23.6% CAGR. This 2.1× outpacing of revenue growth by profit growth demonstrates strong operational leverage and margin expansion.
✓ Strength
Attractive valuation with margin strength
At 19.4× P/E, the company trades at 0.84× the niche sector midpoint of 23×, well within the Subscribe threshold. The 20.92% EBITDA margin and 12.5% NPM are healthy for the utilities sector, supported by a low D/E of 0.55×.
⚠ Risk
SME listing liquidity constraints
As an SME IPO, the company will face lower trading volumes and wider bid-ask spreads post-listing compared to mainboard peers. Exit for retail investors may be slower and more costly, particularly during market downturns.
⚠ Risk
Partial promoter dilution signal
Promoter holding drops from 100% to 70% post-issue, with 20% of the total issue being OFS. While 70% retention is supportive, the 20% OFS suggests some promoter monetization, which may indicate capital needs or reduced conviction.
₹ Valuation
P/E discount to sector norms justified
At 19.4× P/E against a niche sector midpoint of 23×, the company is valued 16% below peer average. The 2.4× P/S ratio is reasonable given 23.6% revenue CAGR and improving profitability, placing the IPO in fair-value territory for growth.
👁 Watch
Monitor working capital deployment efficiency
₹150 Cr of the ₹203.81 Cr net proceeds (74%) is earmarked for working capital. Investors should track quarterly cash conversion and receivables turnover to ensure capital is deployed productively and not trapped in inventory or debtors.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Technocraft Ventures Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹345.00 Cr
Net Profit
₹43.32 Cr
Industry
Other Utilities
Issue Type
Fresh Issue & OFS
Promoters
SANJAY TYAGI, REKHA TYAGI, KARTIKEY TYAGI, KARTIKEY CONSTRUCTIONS (PARTNERSHIP FIRM) AND SANJAY TYAGI HUF
Lead Managers
Khambatta Securities
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.84× sector midpoint with a 50.8% PAT CAGR and 27.72% ROCE, indicating strong operational execution and capital efficiency. Key risk is SME liquidity and the 20% OFS component, which may signal partial promoter exit despite 70% post-issue holding.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
Lot size details will be updated when the DRHP is filed. The price band is ₹200 – ₹212.
The IPO opens on 07 Aug 2026. It closes on 11 Aug 2026. Allotment is expected on 12 Aug 2026. Refunds initiate on 13 Aug 2026. Listing on BSE and NSE is on 14 Aug 2026.
The lead managers for the IPO are Khambatta Securities. Check the SEBI filing for the registrar details.
The IPO listed on 14 Aug 2026 at ₹285 against an issue price of ₹212 (+34.43% on listing day). The current market price (CMP) is approximately ₹439 (+107.1% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 11 Aug 2026. The company trades at 0.84× sector midpoint with a 50.8% PAT CAGR and 27.72% ROCE, indicating strong operational execution and capital efficiency. Key risk is SME liquidity and the 20% OFS component, which may signal partial promoter exit despite 70% post-issue holding.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 11 Aug 2026. The IPO is priced at a P/E of 19.4x. Market cap at issue price is ₹839.65 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The issue closes on 11 Aug 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Technocraft Ventures Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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