Technocraft Ventures
- Issue price
- ₹ 212
- Issue size
- ₹ 251.88 Cr.
- Min. investment
- ₹ 14,840
- Listing price
- ₹ 284
- Subscribed
- 38.69x
- Lot size
- 70 shares
- P/E
- 19.38
- RoNW
- 26.51%
- RoCE
- 27.72%
- Debt / Equity
- 0.55
- PAT margin
- 12.56%
- EBITDA margin
- 20.92%
- RoE
- 26.51%
- EPS
- ₹ 10.94
- NAV
- ₹ 54.28
- Promoter stake
- 70.00%
About
Technocraft Ventures Limited was started in October 1998. It is an infrastructure company that takes up turnkey Engineering, Procurement and Construction (EPC) projects. Most of its work is for state governments and government agencies in north India, mainly in Uttar Pradesh, Uttarakhand, Rajasthan and Delhi. The company works in these areas: Water and waste water work - it designs and builds water supply schemes, sewer lines, sewage and waste water treatment plants, transmission mains and reservoirs. It also runs and maintains them for long periods. Roads and highways - it builds roads and national highway projects. Urban infrastructure - it does sector level planning and builds residential buildings. Power distribution - it carries out electrification schemes, builds substations and lays transmission lines. Trenchless and micro-tunnelling work - it lays pipelines in crowded areas without digging up the surface. The company has done projects under government schemes such as AMRUT, JNNURM, UIDSST, Namami Gange, Jal Jeevan Mission and PMGSY. It has also handled ADB-funded projects, which have strict technical and environmental standards. As on 31 May 2026, it had 170 full-time employees, including 78 engineers.
Timeline
- doneOpens7 Aug
- doneCloses11 Aug
- doneAllotment12 Aug
- doneRefunds13 Aug
- doneDemat credit13 Aug
- doneListing14 Aug
Grey market premium (GMP)
GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
- Highest
- ₹ 42 on 13 Aug 2026
- Lowest
- ₹ 0 on 31 Jul 2026
- First quoted
- ₹ 0 on 31 Jul 2026
Subscription
How many times each investor group bid for its share, as of 18 Aug 2026, 06:31 PM IST.
How much to apply for
The smallest and largest bids for each kind of investor at the upper price band.
| Retail (Min) | 1 | 70 | ₹ 14,840 |
| Retail (Max) | 13 | 910 | ₹ 1,92,920 |
| S-HNI (Min) | 14 | 980 | ₹ 2,07,760 |
| B-HNI (Min) | 68 | 4,760 | ₹ 10,09,120 |
Company overview
Financials
| Assets | 354.38 | 269.74 | 258.05 |
| Total Income | 347 | 281 | 227.3 |
| Profit After Tax | 43.32 | 28.2 | 19.05 |
| EBITDA | 72.18 | 49.63 | 35.03 |
| NET Worth | 163.38 | 119.98 | 91.78 |
| Reserves and Surplus | 133.16 | 112.42 | 84.21 |
| Total Borrowing | 89.76 | 87.43 | 80.11 |
Strengths
- The company does EPC work in many areas - water, roads, urban infrastructure and power. So it does not depend on any one sector.
- It has completed high-value projects for government bodies and for ADB-funded schemes, which shows good execution ability.
- It has its own in-house engineering team and adopts new technology such as trenchless and micro-tunnelling work.
- Revenue and profit have grown steadily for three years in a row, and profitability is getting better.
- It holds electrical works licences that are valid across states, which many competitors do not have.
Risks
- Almost all the work comes from state governments and government agencies. If order flow slows down or payments get delayed, the business will suffer.
- The work is concentrated in a few states, mainly Uttar Pradesh, Uttarakhand, Rajasthan and Delhi. Any policy change in these states will affect the company.
- EPC work needs a lot of working capital. That is why Rs 150 crore of the issue money is going into working capital and not into new capacity.
- Orders are won through bidding. To win work the company may have to quote low prices, which can pull down margins.
- The company is small, with revenue of Rs 347 crore in FY2026. A delay in even one or two big projects can change the full year results.
- Borrowings were Rs 89.76 crore in FY2026 and none of the issue money is being used to repay loans.
- The lead manager, Khambatta Securities, is a small merchant banker. Its past IPO track record should be checked before applying.
- Rs 50.37 crore of the issue is offer for sale by promoter firm Kartikey Constructions. This money goes to the promoter and not to the company.
What the money is for
| Funding working capital requirements of the Company | 150 |
| General Corporate Purposes | — |
Promoters
- Sanjay Tyagi
- Rekha Tyagi
- Kartikey Tyagi
- Sanjay Tyagi (HUF)
- Kartikey Constructions (Partnership Firm)
Anchor investors
4 anchors put in ₹ 75.54 Cr..
| LRSD SECURITIES PVT.LTD. | 11,97,810 | 25.39 | 33.61% |
| VIKASA INDIA EIF I FUND-SHARE CLASS P | 9,45,000 | 20.03 | 26.52% |
| NAKSHATRA BHARAT VANTAGE FUND | 7,10,500 | 15.06 | 19.94% |
| VENUS INVESTMENTS VCC-VENUS STELLAR FUND | 7,10,500 | 15.06 | 19.94% |
Registrar, lead managers and documents
- Listing on
- BSE, NSE
- Face value
- ₹ 10 a share
- Registrar
- Bigshare Services Private Limited
- Lead managers
- Khambatta Securities Limited
- Red herring prospectus (RHP)
- Open
- Draft prospectus (DRHP)
- Open
- Basis of allotment
- Open
IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.