Technocrats Plasma Systems
Demand
Red-hot
subscribed 203.36x overall
Grey market
+53.0%
implied listing pop
History says
+36.3%
median at this premium · middle half +28% to +48% · n=60
Listed
+74.2%
day-1 close +83.0% vs issue
⚠️ Caution GMP implies a 53% pop but retail subscription is only 0.0x — this divergence is the classic manipulated-GMP pattern.
Latest GMP
₹70
grey-market premium
Implied pop
+53.0%
GMP over issue price
History says
+36.3%
median actual listing at this GMP (n=60)
Range of outcomes
middle half of 60 listings at this GMP
GMP trend
14 street quotes since 08/19
Final Subscription
Subscribed 203.36xoverall · last updated 2026-08-23 00:45 UTC
| Category | Shares reserved | 19-08 | 21-08 | 23-08 | |||
|---|---|---|---|---|---|---|---|
| Shares bid | Times | Shares bid | Times | Shares bid | Times | ||
| ∟QIB (Ex Anchor) | 8,77,000 | 148,686,580 | 169.54× | 14,86,83,000 | 169.54× | 14,86,83,000 | 169.54× |
| NII * | 6,60,000 | 205,900,200 | 311.97× | 20,59,03,000 | 311.97× | 20,59,03,000 | 311.97× |
| ∟bNII (> ₹10L) | 4,40,000 | 164,819,600 | 374.59× | 16,48,21,000 | 374.59× | 16,48,21,000 | 374.59× |
| ∟sNII (< ₹10L) | 2,20,000 | 41,082,800 | 186.74× | 4,10,82,000 | 186.74× | 4,10,82,000 | 186.74× |
| Total | 30,75,000 | 939,523,200 | 203.36× | 62,53,44,000 | 203.36× | 62,53,44,000 | 203.36× |
Allotment odds (1 lot lottery once oversubscribed) — Small NII: ≈ 1 in 187 applicants · Big NII: ≈ 1 in 375 applicants
Allotment Probability
Small HNI (sNII) · subscribed 186.74x
1%
Big HNI (bNII) · subscribed 374.59x
0%
Chance of winning at least one lot per application, from the shares reserved for the category vs current demand. QIB allots pro-rata, not by lottery. Demand can spike on the final day.
📋Issue Details
| Offer Type | Bookbuilding IPO |
| Sale Type | Fresh capital only |
| Listing At | BSE SME |
| Face Value | ₹ 10 per share |
| Price Band | ₹125 to ₹132 |
| Lot Size | 1000 shares |
| Total Issue Size | 46,20,000 shares (agg. up to ₹ 61 Cr) |
| ISIN | INE19QK01022 |
🗓️IPO Schedule
Open
Fri, Aug 14, 2026
Close
Tue, Aug 18, 2026
Allotment
Wed, Aug 19, 2026
Refunds
Thu, Aug 20, 2026
Demat credit
Thu, Aug 20, 2026
Listing
Fri, Aug 21, 2026
🏛️Pre & Post Issue Capital
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 86.96% | 64% |
| Public | 13.04% | 36.00% |
| Total | 100% | 100% |
💰Valuation & Market Cap
| EPS(₹) (pre → post) | 11.60 → 8.53 |
| P/E (x) (pre → post) | 11.38 → 15.47 |
| Market Cap at Offer Price | ₹422.63 Cr |
📊Company Financials ₹ crore
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 72.06 | 36.72 | 13.55 |
| Total Income | 131.41 | 49.44 | 6.35 |
| Profit After Tax | 14.94 | 8.11 | 2.21 |
| EBITDA | 26.29 | 8.59 | 1.30 |
| NET Worth | 39.01 | 14.24 | 3.74 |
| Reserves and Surplus | 26.13 | 12.61 | 2.20 |
| Total Borrowing | 14.73 | 10.24 | 6.66 |
🎯Key Performance Indicators
| ROE | 56.10% |
| ROCE | 48.55% |
| Debt/Equity | 0.38 |
| RoNW | 56.10% |
| PAT Margin | 11.37% |
| EBITDA Margin | 20.02% |
| NAV | 30.28 |
| Price to Book Value | 1.52 |
🤝Recently Listed PeersOther Industrial Products
| Company | Issue price | P/E | Listing-day close |
|---|---|---|---|
| Liotech Industries Ltd. | ₹321 | 23.13 | ₹244.15 |
| Narmadesh Brass Industries Ltd. | ₹515 | 19.63 | ₹470.25 |
| Abril Paper Tech Ltd. | ₹61 | 24.96 | ₹49.38 |
| Classic Electrodes (India) Ltd. | ₹87 | 9.33 | ₹95.00 |
| ARC Insulation & Insulators Ltd. | ₹125 | 10.58 | ₹137.75 |
Lot Size — what an application costs
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2,000 | ₹2,64,000 |
| Individual investors (IND) (Max) | 2 | 2,000 | ₹2,64,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,96,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,24,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,56,000 |
Issue Reservation
| Category | Shares | % of issue | Max allottees |
|---|---|---|---|
| QIB | 21,91,000 | 49.92% | 47.42% |
| − Anchor Investor | 13,14,000 | 28.44% | |
| − QIB (Ex. Anchor) | 8,77,000 | 18.98% | |
| NII (HNI) | 6,60,000 | 15.04% | 14.29% |
| − bNII > ₹10L | 4,40,000 | 9.52% | |
| − sNII < ₹10L | 2,20,000 | 4.76% | |
| Retail | 15,38,000 | 35.04% | 33.29% |
| Market Maker | 2,31,000 | 5.00% | |
| Total | 46,20,000 | 100.00% | 100.00% |
🔔Listing Day
Issue price
₹132
Listing open
₹230
Open vs issue
+74.2%
Day-1 close
+83.0%
vs issue price
GMP trend
| Date | GMP ₹ | Implied |
|---|---|---|
| 2026-08-21 | 70 | +53.0% |
| 2026-08-21 | 70 | +53.0% |
| 2026-08-21 | 70 | +53.0% |
| 2026-08-21 | 55 | +41.7% |
| 2026-08-20 | 55 | +41.7% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-20 | 43 | +32.6% |
| 2026-08-19 | 43 | +32.6% |
| 2026-08-19 | 43 | +32.6% |
| 2026-08-19 | 43 | +32.6% |
🏢About Technocrats Plasma Systems
Technocrats Plasma Systems IPO is a book build issue of ₹60.98 crores. The issue is entirely a fresh issue of 0.46 crore shares of ₹60.98 crore.
Technocrats Plasma Systems IPO bidding started from Aug 14, 2026 and ended on Aug 18, 2026. The allotment for Technocrats Plasma Systems IPO was finalized on Aug 19, 2026. The shares got listed on the BSE SME on Aug 21, 2026.
Technocrats Plasma Systems IPO is set final issue price at ₹132 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,64,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,96,000.
Rarever Financial Advisors Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Aftertrade Broking Pvt.Ltd.
🎯Objects of the Issue
| Object | ₹ Cr |
|---|---|
| Purchase and installation of plant and machinery for manufacturing of plasma cutting machi | 8.79 |
| Funding towards long-term working capital requirements | 40.00 |
| General Corporate Purposes | 5.50 |
| Issue Expenses | 6.70 |
💼Lead Managers
- • Rarever Financial Advisors Pvt.Ltd.
🗳️Registrar
- • Maashitla Securities Pvt.Ltd.
- allotment status is checked on the registrar's portal
🏢Registered Office
📍 Gala No. 6, 7, 8, 105, 106, 107, 108,, Nirav-2, Gaon Devi Industrial Estate,, Sativali, Vasai East, Dist., Palghar, Maharashtra, 401208
📞 78880 99611
✉️ cs@technocratplasma.com
Grey-market numbers are unofficial street quotes, aggregated across sources. Not investment advice.