Ztech India Ltd IPO booked 21 times on day 1: Check subscription, price band, lot size and other details

The initial public offering (IPO) of civil engineering products and services provider Ztech India Limited saw significant investor interest on the first day of bidding on Wednesday, May 29.

Ztech India IPO was booked nearly 21 times with bids for nearly 4.7 crore shares against 22.56 lakh shares on offer.

The Ztech India Limited IPO saw strong demand in the retail investors’ category with applications for more than 3.22 crore shares against 11.28 lakh shares reserved for the segment. The non-institutional investors (NIIs) category was subscribed 20.16 times with bids for more than 97.51 lakh shares against 4.83 lakh shares set aside for the category. The qualified institutional buyers (QIBs) booked their portion 7.75 times with applications for 50 lakh shares against 6.44 lakh shares reserved for them.

Ztech India IPO, valued at ₹37.30 crore, is a book-building public offer comprising an entirely fresh issue of 33,91,200 shares of a face value of ₹10 each.

Narnolia Financial Services Ltd is the book running lead manager for the Ztech India IPO, while Maashitla Securities Private Limited is the registrar for the issue. Nvs Brokerage has been appointed as the market maker for the Ztech India IPO.

Ztech India IPO date

The subscription window for the Ztech India IPO is open from May 29 to May 31.

Ztech India IPO share allotment status is expected to be finalised on June 3, followed by the initiation of refunds to unsuccessful applicants and transfer of shares into demat accounts of successful bidders on June 4.

The Ztech India IPO listing date has been tentatively scheduled as June 4. Shares of Ztech India will be listed on the NSE SME platform, Emerge.

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Ztech India IPO price band

The price band for the Ztech India IPO ranges from ₹104 to ₹110 per share. Investors have the opportunity to bid for shares starting from a minimum lot size of 1,200 shares and in multiples thereafter.

Retail investors can apply for a minimum of one lot, aggregating to an investment of ₹1,32,000. On the other hand, the high net-worth individuals (HNIs) are required to apply for a minimum of two lots, or 2,400 shares, amounting to an investment of ₹2,64,000.

Ztech India IPO objective

Ztech India will use the net proceeds from the IPO to address the company's working capital needs. Secondly, a portion of the proceeds will also be used for general corporate purposes.

About Ztech India Limited

Ztech India specialises in the design and development of civil engineering products and services, particularly in the field of geotechnical solutions. The company’s expertise spans a wide spectrum of techniques, technologies, and methodologies aimed at enhancing the performance and stability of various structures.

Additionally, the company is engaged in the waste management sector, with focus on repurposing recycled scrap materials to create innovative theme parks. Ztech India offers eco-friendly engineering solutions tailored for industrial wastewater management, sustainable theme park development, and specialised geotechnological applications.

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