Quicktouch Technologies SME IPO Day 1: Check subscription status and GMP signal

A SME IPO of 1,530,000 equity shares with a face value of Rs. 10 and a total value of up to Rs. 9.33 Crores is Quicktouch Technologies.  The IPO opened today on April 18, 2023, and will close on April 21, 2023. The issue price of the IPO has been fixed at is priced at 61 per share and the minimum order quantity is 2000 shares per issue. The basis of allotment for the Quicktouch Technologies initial public offering will be finalised on April 26, 2023, and the anticipated listing date is May 2, 2023. The registrar for the IPO is Skyline Financial Services Private Ltd and the IPO will be listed on NSE SME whereas Share India Capital Services and Khambatta Securities Ltd will be the lead managers to the Quicktouch Technologies SME IPO. 

On April 18, 2023 7:29 PM, the Quicktouch Technologies IPO receives 0.92 times its initial subscription. The retail sector had a subscription rate of 0.75 times, and the NII category saw a subscription rate of 1.10. 7,65,000 shares were offered, compared to 5,70,000 shares total that were bid for the retail sector. While the total number of shares offered for the NII category is 7,65,000 and the total number of shares bid is 8,44,000, respectively.

Gaurav and Madhu Jindal are the company’s promoters, and their current ownership position in the company is 89.41% and post issue share holding will be 65.72%. The company has divided the issue size in half, allocating 50% to HNI/NII investors and 50% to retail investors.

Today’s buyers’ interest in the grey market can be seen by Quicktouch Technologies’ latest IPO GMP, which is 3 and represents a premium over the initial issue price. Quicktouch Technologies’ expected listing price for its SME IPO is 64 (cap price plus today’s GMP). As a consequence, at today’s closing price, Quicktouch Technologies’ GMP value indicates an upside listing of 4.92% considering the price band of 61.

Post its day of 1 issue, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Even though fundamentals look great including a very low PE ratio as well, FY22 & FY23 growth  is phenomenal and chances of the business growth slowing down  look likely. Investors should wait for lower levels post listing to buy Quick touch Technologies stock.”

2013 saw the incorporation of Quicktouch Technologies Limited, which operates in the consulting and support services for the IT industry. The allocation status for Quicktouch Technologies’ IPO will be displayed on Skyline Financial Services’ website.

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