Ztech India IPO (ZTI) Day 1: Subscription Status, GMP Insights, Key Dates, and More

• The Ztech India IPO opened for subscription on Wednesday, May 29, 2024.
• Retail investors can apply for the IPO until Friday, May 31, 2024.
• The IPO is expected to list on the NSE SME by Tuesday, June 4, 2024.

Discover the key details and insights about the Ztech India IPO, including subscription status, issue size, objectives, and grey market premium.

Ztech India IPO Subscription Status

As of 5 PM on May 29, 2024, the Ztech India IPO had been subscribed 20.48 times, according to data from Chittorgarh.com. The retail category saw a subscription of 28.59 times, the Qualified Institutional Buyers (QIB) category was subscribed 7.76 times, and the Non-Institutional Investors (NII) category was subscribed 20.16 times.

Issue Size and Other Details

The Ztech India IPO aims to raise ₹37.30 crore through a book-built offering, issuing 33.91 lakh new shares. The price band for the IPO is set between ₹104 and ₹110 per share. Retail investors must apply for a minimum of 1,200 shares, which translates to a minimum investment of ₹132,000. High Net-worth Individuals (HNI) need to invest in at least two lots, or 2,400 shares, amounting to ₹264,000.

Objectives of the Issue

The proceeds from the Ztech India IPO will be utilized to meet the company’s working capital requirements, general corporate purposes, and issue expenses. Ztech India is a waste management company specializing in repurposing discarded materials to create theme parks. The company also offers environmentally friendly engineering solutions for geotechnical specialized solutions, industrial wastewater management, and sustainable theme park development.

Grey Market Premium (GMP)

According to investorgains.com, the Grey Market Premium (GMP) for Ztech India’s IPO is currently ₹80 per share. This indicates that the grey market price of Ztech India’s equity shares is ₹180 per share, which is 72.73% higher than the issue price of ₹110 per share.

Conclusion

The Ztech India IPO has garnered significant interest from various investor categories, reflecting strong market confidence. With a clear focus on utilizing the funds for strategic growth and operational efficiency, Ztech India is poised to make a notable debut on the NSE SME. Investors should consider the company’s unique value proposition and market potential when making their investment decisions.