Ztech India IPO / The IPO of this infra company is being launched today, know the price band, GMP and other details

Vikrant Shekhawat : May 29, 2024, 08:10 AM
Ztech India IPO: Only one new IPO is being launched in the primary market today on Wednesday. This is the SME IPO of Z Tech India. The company wants to raise Rs 37.30 crore through this IPO. This IPO will open today on 29 May and will close on 31 May. One lot in this IPO is Rs 1200. Allotment of shares will be done on June 3. At the same time, the listing of this stock on the stock exchange can be done on June 4. Let us know the key details related to this IPO. About 50% of this IPO is reserved for qualified institutional bidders. While 15% is reserved for non-institutional investors and the remaining 35% for retail investors.

What is GMP?

Z-Tech India's stock is seen trading with a premium in the gray market. On Wednesday morning, the company's stock was seen trading at a premium of Rs 80 against the issue price of Rs 110. In this way, the company's shares can be listed on the stock exchanges at Rs 190 with a premium of 72.73 per cent.

What does the company do?

ZTech India Limited designs civil engineering products. The company provides state-of-the-art geo-technical solutions for infrastructure and civil construction projects in India. It is actively involved in the waste management sector and is also focusing on building theme parks using recycled scrap material. The company provides eco-friendly solutions for theme park development, industrial waste water management and geotechnical specialized solution categories.

What is the price band?

The company has fixed the price band for the IPO at Rs 104 to Rs 110 per share. The minimum lot size for application is 1200 shares. Retail investors will have to invest a minimum of Rs 1 lakh 32 thousand. This IPO is a fresh issue of 33.91 lakh shares. The company said that it will use the net proceeds from the fresh issue of shares to meet the working capital requirements of the company, general corporate purposes and issue expenses.