Techknowgreen Solutions IPO to open on September 18; check key dates, other details
Techknowgreen Solutions IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) company Techknowgreen Solutions Limited opens on Monday, September 18, 2023. The company aims to raise ₹16.72 crore through the public issue. It is a fixed price issue at ₹86 per equity share, at a face value of ₹10 per share.
Techknowgreen Solutions IPO comprises a fresh issue of 19.44 lakh shares, aggregating up to ₹16.72 crore. The lot size is fixed at 1,600 shares, hence investors can bid for a minimum of 1,600 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹137,600.
The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹275,200. The SME IPO closes on September 21 after which shares will listed on the BSE SME platform. The tentative listing date has been set as Friday, September 29.
The net proceeds from the IPO will be utilized to fund research and development initiatives, infrastructure expansion, hiring and resourcing, repayment of bank loan, and general corporate purpose. Indorient Financial Services Ltd is the book running lead manager of the Techknowgreen Solutions IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Techknowgreen Solutions IPO is Alacrity Securities.
“With over 20 years of experience we are well positioned to provide environmental consultancy services to various areas like regulatory framework, sustainability, technology and engineering. The IPO funding will enhance our capabilities to expand our reach to clients across different industries,'' said Dr. Ajay Ojha, Managing Director, Technowgreen Solutions Limited.
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