TECHNOCRATS PLASMA SYSTEMS LIMITED IPO — Subscription & GMP
- Price band
- ₹125 – ₹132
- Lot size
- 1000
- Issue size
- ₹43.64 Cr
- Bidding
- 14 Aug 2026 → 18 Aug 2026
- Allotment
- —
- Listing
- 21 Aug 2026
Listing outcome
Official exchange pricesGMP was out by 45.4 percentage points in the buyer’s favour — it implied +28.79% and the issue listed +74.24%. Counted in our running GMP accuracy record.
Schedule
- 14 Aug 2026IPO open date
- 18 Aug 2026IPO close date
- 19 Aug 2026Allotment date†
- 19 Aug 2026Funds unblock or debit†
- 21 Aug 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returns# Business Model of Technocrats Plasma Systems Limited
Technocrats Plasma Systems Limited operates as a specialized engineering and industrial automation company, manufacturing advanced cutting and welding capital equipment for the heavy engineering sector.
- Core Offerings: The company's diverse product portfolio includes plasma cutting machines, advanced arc welding equipment, CNC profile cutting machines, and customized welding automation systems. Building on its legacy since 1990, it is also expanding into next-generation technologies like fiber laser cutting/welding and plasma gasifiers for e-waste management.
- Target Markets: It serves critical, heavy-duty industries including aerospace, defence, steel, and metal fabrication. The company boasts an established client base that includes major public and private sector entities such as the Ministry of Defence, BHEL, and SAIL.
- Revenue Generation: The company's business model relies on three main revenue streams: the direct sale of high-value capital machinery, steady recurring income from the sale of essential consumables (such as plasma torches, electrodes, and welding consumables), and high-margin service revenue derived from machine retrofitting, installation, and turnkey maintenance solutions. This diversified approach helps mitigate economic fluctuations associated with industrial capital spending.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹11.63 | — |
| P/E ratio | 11.35× | — |
| NAV per share | ₹30.28 | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 44 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from BSE · fetched 843 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers (QIBs) | 8.77 L | 14.87 Cr | 169.54× |
| 1(a)Foreign Institutional Investors (FIIs) | — | 2.80 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 1.15 Cr | — |
| 1(c)Mutual Funds | — | 16.74 L | — |
| 1(D)Others | — | 10.75 Cr | — |
| 2Non Institutional Investors | 8.91 L | 20.61 Cr | 231.35× |
| 2(a)Corporates | — | 36.02 L | — |
| 2(b)Individuals (Other than RIIs) | — | 19.96 Cr | — |
| 3Retail Individual Investors (RIIs) | 15.38 L | 27.08 Cr | 176.05× |
| 3(a)Cut Off | — | — | — |
| 3(b)Price Bids | — | 27.08 Cr | — |
| 4Employee Reserved | — | 0 | — |
| 4(a)Employee (Cut off) | — | — | — |
| 4(b)Employee (Price) | — | — | — |
| 5Reservation PortionShareholder | — | 0 | — |
| 5(a)RPS (Cut off) | — | — | — |
| 5(b)RPS (Price) | — | — | — |
| Total | 33.06 L | 62.56 Cr | 189.22× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹125 → ₹132 · peak 62.56 Cr shares bid
Allotment status
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Issue details
- Price band
- ₹125 – ₹132
- Lot size
- 1000 shares
- Min. bid quantity
- 2000
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 33.06 L
- Issue size
- ₹43.64 Cr
- Max bid · QIB
- 30.75 L
- Max bid · NII
- 21.98 L
Timeline & process
- Bidding opens
- 14 Aug 2026
- Bidding closes
- 18 Aug 2026
- Allotment
- —
- Listing
- 21 Aug 2026
Intermediaries
- Registrar
- Maashitla Securities Private Limited
- Sponsor bank
- AXIS BANK
- Lead managers
- Rarever Financial Advisors Private Limited
- Syndicate members
- https://listing.bseindia.com/Download/E:\inetpub\LISTING\RTA\DocumentsSMEiPO\276503\Syndicate_Member_13._Syndicate_Member_Details.xlsx