Trident Techlabs IPO Has Opened For Bids At Rs 33-35. Should You Subscribe?

Trident Techlabs provides technology-based solutions to the aerospace, defence, automotive, telecommunications, semiconductor, and power distribution industries has launched on Thursday. The IPO has opened for bids today and will close on December 26, 2023. It is a book-built issue of ₹16.03 crore and is entirely a fresh issue of 45.8 lakh shares. The company proposed to utilise the net proceeds in consulting and technical services in system-level electronic design, chip-level electronic design, embedded design, hydraulic/pneumatic systems, system modelling, reliability and quality, design automation, power electronics, PCB design, and electromagnetic simulations. Around 50% of the net issue is reserved for QIB investors, not less than 35% of the issue is reserved for retail investors and not more than 15% is reserved for NIIs. The minimum lot size for an application is 4000 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹140,000. Trident Techlabs Limited's revenue increased by 128.4% and profit after tax (PAT) rose by 760.3% between the financial year March 31, 2022 and March 31, 2023. Shares of Trident Techlab are available for trade in unlisted markets. According to stock market observers, Trident Techlabs shares are available at a premium of ₹40 in the grey market today. Trident Techlabs IPO is subscribed 11.07 times or over 174 crores, The allotment for the Trident Techlabs IPO is expected to be finalised on Wednesday, December 27, 2023. Trident Techlabs IPO will list on NSE SME with a tentative listing date fixed as Friday, December 29, 2023.