Ztech India IPO subscribed nearly 53 times on Day 2: Check subscription status, price band and other details

Ztech India Limited IPO witnessed robust demand on the second day of bidding on Thursday, May 30, as the public issue was booked more than 52 times.

Ztech India IPO received bids for over 11.86 crore shares across different categories against 22.56 lakh shares on offer, indicating an overall subscription of 52.59 times, the NSE data showed.

Demand for the civil engineering company’s shares was driven by retail investors, as the issue was booked 79.09 times in the category. The retail investors applied for 8.92 crore shares compared to 11.28 lakh shares reserved for the category.

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The non-institutional investors’ (NIIs) category was booked more than 50 times with bids for over 2.43 crore shares compared to 4.83 lakh shares on offer for the segment.

The qualified institutional buyers’ (QIBs) placed bids for 51.08 lakh shares compared to the 6.44 lakh shares reserved for the category. The issue was booked 7.92 times in the QIB category.

Ztech India IPO is a book-built issue of 33.91 lakh fresh shares. The IPO is valued at ₹37.3 crore.

The book running lead manager for Ztech India IPO is Narnolia Financial Services and Maashitla Securities Private Limited is the registrar for the issue. The market maker for the issue is Nvs Brokerage.

Ztech India IPO price band, allotment and listing

The subscription window for Ztech India IPO opened on Wednesday, May 29 and will close on Friday, May 31, 2024.

Ztech India IPO’s price band has been fixed at ₹104 to ₹110 per share. Retail investors can make a minimum investment of 1 lot consisting of 1,200 shares, amounting to ₹1,32,000.

Shares of Ztech India IPO are likely to be allotted on Monday, June 3. Successful bidders will receive shares of Ztech India in their Demat accounts on Tuesday, June 4, while the initiation of refunds for unsuccessful bidders will take place on the same day. Shares of Ztech India are likely to make their debut on the NSE SME platform on Tuesday, June 4.

Objective of Ztech India IPO

The money raised by the company will be used for fulfilling the company’s working capital requirements, general corporate purposes and to meet other issue expenses.

About Ztech India Ltd

Ztech India was incorporated in 1994 and is a civil engineering company aimed at providing geo-technical Solutions for infrastructure and civil construction projects. The company is actively involved in using waste material for creating theme parks. The three domains of Ztech India’s offerings are Sustainable Theme Park Development, Industrial Wastewater Management, and Geotechnical Specialised Solutions.

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