Ztech India’s shares debuted on the NSE SME platform at Rs 100, a 9.1% discount to the issue price of Rs 110, showing a weak start for the company’s public listing on June 5.
Ztech India’s Rs 37.30 crore IPO was oversubscribed over 371 times, with strong demand from non-institutional investors (832.37x), retail (315x) and QIBs (123x), reflecting high investor interest in the fresh issue of 33.91 lakh shares prior to its weak stock market debut.
Ztech India is a civil engineering firm that specializes in geotechnical solutions for infrastructure projects. They utilize cutting-edge techniques to optimize ground-based structures. Additionally, the company transforms scrap into theme parks and manages industrial wastewater using innovative GEIST technology, showcasing their commitment to sustainability.
Ztech India aims to utilize the IPO proceeds of ₹23.76 crores to meet working capital needs, support growth, and fund general corporate purposes, including marketing, strategic initiatives, and brand-building, to bolster its operations and profitability.