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Trident Techlabs IPO opens for subscription. Should you subscribe?

Trident Techlabs IPO is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares.

Updated on: Dec 21, 2023 12:10 PM IST
By HT News Desk
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Trident Techlabs, a technology firm providing solutions to defence, automotive, aerospace and semiconductor industries, opened its initial public offering (IPO) for subscription on Thursday.

The IPO is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares.

Book building is the method of deciding the price of shares based on the demand. The price of shares is decided with the assistance of merchant banks.

Trident Techlabs IPO is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares (File Photo)
Trident Techlabs IPO is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares (File Photo)

The IPO's price band has been set at ₹33-35 per share, and the subscription closes on December 26. The minimum lot size for an application is 4,000 shares.

ALSO READ: Innova Captab IPO opens for subscription. Check price band, GMP

Trident Techlabs IPO GMP

The shares of Trident Techlabs are trading at a premium of ₹40 in the grey market. It is expected that the estimated listing price would be ₹75, 114 per cent more than the issue price.

Trident Techlabs IPO allotment

The IPO allotment of Trident Techlabs is expected to be finalised on December 27, and the issue is expected to be listed on the National Stock Exchange on December 29.

Both the benchmark indices had hit record high levels in intra-day trade on Wednesday.

Investors also went for profit-taking after the recent record-breaking rally in the markets. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,322.08 crore on Wednesday, according to exchange data.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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