✅ Subscribe
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 27.7% ROCE, indicating strong operational efficiency and growth. Key risk is SME-class liquidity and reliance on working capital deployment for near-term margin sustenance.
Listing Performance
Issue Price
₹212
Allotment price
Listing Price
₹285
+34.43% on listing day
Current Price (CMP)
₹480.65
+126.7% vs issue
Listed On
14 Aug 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit has grown from ₹19.1 Cr (FY-2) to ₹43.3 Cr (FY0), a 50.8% CAGR over two years, significantly outpacing revenue growth of 23.6%. This margin expansion reflects operational leverage and improving business quality.
✓ Strength
Valuation discount to sector norms
At 19.4× P/E, the company trades at 0.84× the niche/unlisted sector midpoint of 23×, placing it in the Subscribe zone. With a 20.9% EBITDA margin and 27.7% ROCE, the valuation offers a margin of safety relative to quality metrics.
✓ Strength
Strong capital efficiency and leverage
Debt-to-equity ratio of 0.55× is conservative and well below the 1.5× threshold, while ROCE of 27.7% demonstrates efficient capital deployment. Promoter commitment remains high at 70% post-issue, signaling confidence.
⚠ Risk
SME-class liquidity constraints
As an SME listing, the company will face lower trading liquidity and a smaller investor base compared to Mainboard peers. Exit opportunities for retail investors may be limited, and price discovery could be volatile.
⚠ Risk
Working capital intensity and execution
₹150 Cr of the ₹203.8 Cr net proceeds (73.6%) is earmarked for working capital, not capacity expansion or strategic investments. If working capital deployment is inefficient or delayed, margin expansion may stall and cash conversion could deteriorate.
₹ Valuation
Fair valuation with margin support
P/E of 19.4× is 0.84× the sector midpoint and NPM of 12.5% is below the 15% Subscribe threshold, but strong PAT CAGR of 50.8% and ROCE of 27.7% justify the multiple. The company qualifies for Subscribe based on valuation discipline and growth momentum.
👁 Watch
Post-listing working capital deployment
Monitor quarterly results for evidence that the ₹150 Cr working capital deployment translates into revenue growth and margin maintenance. Any deterioration in cash conversion or receivables cycles would signal execution risk.
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 27.7% ROCE, indicating strong operational efficiency and growth. Key risk is SME-class liquidity and reliance on working capital deployment for near-term margin sustenance.
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 ₹480.65 (+126.7% 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 27.7% ROCE, indicating strong operational efficiency and growth. Key risk is SME-class liquidity and reliance on working capital deployment for near-term margin sustenance.
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.
Explore More