After over 700x IPO subscription, Trident Techlabs stock lists at 180% premium
Trident Techlabs listed at a premium of 180.4% on the NSE SME platform on Friday at Rs 98.15 per share.
Ahead of the listing, the company's shares traded at a premium of Rs 43 in the unlisted market. The IPO was priced in the range of Rs 33-35.
The Rs 16-crore IPO of Trident Techlabs was subscribed over 700 times at close.
The retail category of the issue breached 1000 times subscription, while the NII portion came close at 854 times subscription. The QIB part was the least subscribed, but still received over 100 times bids.
The company offered 45.8 lakh fresh shares in the public offer, which opened for subscription on December 21 and closed on December 26.
The company offers custom-built technology solutions to corporations in the aerospace, defence, automotive, telecom, medical, semiconductor and power distribution sectors.
It has two business verticals i.e. engineering solutions and power system solutions.
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Its engineering solutions portfolio of products-related services encompasses a diverse spectrum of solutions including system-level electronics design, chip-level electronics design, embedded design, hydraulics/ pneumatics system, system modelling, reliability and quality, design automation, power electronics, PCB designing and electromagnetic simulations.
Meanwhile, the design services include consulting and engineering services that help companies innovate better with services spanning the entire product development lifecycle, including strategy and user research, design and engineering, pre-launch testing and post-launch maintenance, and service delivery and optimization.
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