Techknowgreen Solutions shares tepid debut lists at 1.2% premium at ₹87 on BSE SME

Techknowgreen Solutions marked its entry onto the BSE SME platform with its shares debuting at a premium on a Wednesday. The initial listing price for Techknowgreen Solutions’ shares on the BSE SME platform stood at ₹87 per share, reflecting a 1.2% increase from the IPO issue price of ₹86. The Techknowgreen Solutions Limited IPO subscription window opened for investors on Monday, September 18, and concluded on Thursday, September 21. The pricing range for the Techknowgreen IPO was set at ₹86 per equity share, with a face value of ₹10 each. Investors were required to apply for a minimum of 1,600 equity shares, and subsequent applications could be made in multiples of 1,600 equity shares.

Techknowgreen Solutions

The Techknowgreen IPO, valued at ₹16.72 crores, consisted entirely of fresh issue shares, with no offer for sale (OFS) component. The company’s intended utilization of the net proceeds from the IPO includes investments in research and development (R&D) endeavors, including the recruitment of experienced R&D personnel and the acquisition of equipment to support R&D activities. Additionally, the funds will be allocated for investments in office space, covering office space renovations and the procurement of office equipment. Furthermore, the company plans to expand its execution and support service teams, with a specific focus on hiring professionals with expertise in environmental protection, in addition to addressing general corporate needs.

Ajay Ramakant Ojha and Prasad Rangrao Pawar serve as the promoters of Techknowgreen Solutions. Prior to the IPO, the promoters held an 89.02% stake in the company, and this ownership is expected to decrease to 65.58% in the post-listing phase following the completion of the public issue.

Indorient Financial Services Ltd serves as the book-running lead manager for the Techknowgreen Solutions IPO, while Bigshare Services Pvt Ltd has been appointed as the issue’s registrar. Alacrity Securities plays the role of the market maker for this IPO. As for the Grey Market Premium (GMP) of Techknowgreen Solutions IPO, it has consistently held at +5 for the past seven trading sessions. This suggests that, according to, the shares of Techknowgreen Solutions are trading in the grey market at a premium of ₹5 as of Wednesday. Taking into account the upper end of the IPO price range and the prevailing grey market premium, it’s estimated that Techknowgreen Solutions shares may debut on the market at ₹91 per share. This would represent a 5.81% increase over the IPO’s issue price of ₹86. The ‘grey market premium’ signifies the willingness of investors to pay more than the IPO issue price for the shares, indicating robust demand and positive sentiment surrounding the IPO.