Falcon Technoprojects Stumbles at Launch, Shares List at 8.7% DiscountFalcon Technoprojects Stumbles at Launch, Shares List at 8.7% Discount

Falcon Technoprojects had a subdued start on the NSE SME, opening at ₹84, an 8.7% drop from the issue price of ₹92. Following its lackluster debut, the stock quickly hit a 5% upper circuit, indicating some recovery from the initial decline.

Falcon Technoprojects India’s IPO, running from June 19 to June 21, set its share price at ₹92. The offering included lots of 1,200 shares and saw robust demand, with subscriptions reaching 65.32 times the available shares on the final day.

Founded in 2014 by Bharat Shreekishan Parihar, Falcon Technoprojects India Pvt. Ltd. evolved from a sole proprietorship established in 2010. This ISO 9001:2015 certified company offers MEP services nationwide, specializing in integrated solutions for mechanical, electrical, and plumbing systems designed to optimize building operations in various sectors including energy and construction.

Falcon Technoprojects aims to allocate INR 10.27 crores from its IPO to enhance FY 2024-25 working capital, supporting growth and operational needs, with additional funds directed towards general corporate purposes, debt repayment, and business contingencies.