Ztech India IPO subscription opens today; price bands, lot size, GMP here

Ztech India IPO  opens on May 29: The initial public offering (IPO) of Ztech India, a firm specialising in civil engineering products design, is set to open for subscription on Wednesday, May 29. This book-built issue aims to raise Rs 37.30 crores solely through a fresh issue of 33,91,000 shares.

On Tuesday, May 28, Ztech India secured Rs 10.61 crore from anchor investors by offering them a total of 9,64,800 shares.

Here are the key details of Ztech India IPO:

Ztech India IPO price bands and lot Size:

The price band for Ztech India IPO is set at Rs 104 to Rs 110 per share. The minimum application lot size stands at 1200 shares, requiring a minimum investment of Rs 1,32,000 for retail investors. High net worth individuals (HNI) are required to invest in a minimum of 2 lots (2,400 shares), amounting to Rs 2,64,000.

 

Ztech India IPO grey market premium (GMP):

According to Chittorgarh IPO, the latest grey market premium for Ztech India SME IPO is Rs 80. With the price band at Rs 110, the estimated listing price for Ztech India SME IPO is Rs 190, projecting an expected listing gain of 72.73 per cent per share.

Ztech India IPO key dates:

Ztech India IPO opens for subscription on May 29, 2024, and closes on May 31, 2024. The allotment for the IPO is expected to be finalised on Monday, June 3, 2024. Ztech India IPO will be listed on NSE SME, with the tentative listing date set as Tuesday, June 4, 2024.

Ztech India IPO shares allotment:

Ztech India has allocated not more than 50 percent of the shares offered of the net Issue for QIB (qualified institutional buyers) investors. Not less than 35 percent of the net Issue is reserved for retail buyers, and not less than 15 percent is earmarked for NII (Non-institutional investors).

Ztech India IPO financials:

In fiscal year 2023-24 (FY24), Ztech India Limited witnessed a increase in revenue by 160.2 percent year-on-year (YoY), reaching Rs 67.3 crore from Rs 25.8 crore in FY23. Profit after tax (PAT) surged by 296.4 percent YoY to Rs 7.7 crore in FY24 from Rs 1.9 crore in FY23.

Ztech India IPO’s objectives 

The proceeds from the IPO will be utilised by Ztech India to meet its working capital requirements, general corporate purposes, and issue expenses.

Ztech India IPO lead book runners

Narnolia Financial Services Ltd is the book running lead manager of the Ztech India IPO, while Maashitla Securities Private Limited acts as the registrar for the issue. Nvs Brokerage is designated as the market maker for Ztech India IPO.

About Ztech India:

Z-Tech (India) Limited specialises in designing civil engineering products and providing state-of-the-art specialty Geo-Technical Solutions for infrastructure and civil construction projects in India. The company is actively engaged in the waste management sector, with a focus on creating theme parks using recycled scrap materials.

Ztech India offers innovative, safe, and eco-friendly engineering solutions in three major categories: sustainable theme park development, industrial wastewater management, and geotechnical specialised solutions.