Market capitalisation is the post-issue share count in the offer document’s capital structure (1,75,00,000 shares) multiplied by the upper end of the price band, ₹132. It is arithmetic on those two filed figures, not a valuation.
The post-issue ring is the register this issue’s RHP discloses. Pre-issue register from the RHP capital structure, cross-checked against exchange data. Pre-issue percentages are taken from the disclosure, never estimated.
The minimum application is 2,000 shares, ₹2,64,000 at the ₹132 cut-off. Since 1 July 2025 SME issues take a minimum application of ₹2,00,000 or more from individual investors; the HNI minimum is set in the RHP. Amounts are shown at the upper band because applications are made at the cut-off price.
Technocrats Plasma Systems DRHP & RHP offer documents
The draft red herring prospectus is filed with SEBI before the issue; the red herring prospectus adds the price band and dates just before bidding opens. Both describe the business, the restated financials, the risk factors and how the proceeds will be used.
Lead managersRarever Financial Advisors Private Limited
RegistrarMaashitla Securities Private Limited
Issue structure₹60.98 Cr fresh
Technocrats Plasma Systems IPO Strengths & Risks as disclosed in the DRHP
▲ Strengths (7)
The company has over three decades of experience since 1994, serving institutional clients across government, PSUs, and private sectors, fostering deep industry insight and enduring client trust.
Indigenous design and technological innovation with in-house R&D supporting CNC plasma cutters, automated welding, energy-efficient systems, and digital integration.
Comprehensive and customizable product portfolio including plasma cutting machines, welding equipment, and automation-ready systems adaptable with CNC integration and special modifications.
Robust service network with nationwide technician deployment, preventive maintenance, spare parts availability, remote diagnostics, and predictive maintenance ensuring operational reliability and customer satisfaction.
Cost-efficient, scalable operations with strategic alliances and certifications, enabling vertically integrated manufacturing and strong vendor/global partnerships for scalable, cost-effective operations.
Government initiatives like Make in India, PLI, and export promotion schemes provide cost advantages and facilitate capacity expansion.
Developing energy-efficient, low-emission equipment aligns with increasing ESG mandates and customer preferences.
▼ Risk factors (8)
Substantial portion of revenue from top 10 customers makes the company vulnerable to loss of customers or reduction in business.
Dependence on few suppliers for material requirements and lack of definitive agreements expose the company to risks.
Any disruptions to supply or increases in pricing of raw materials and finished products may adversely affect business, cash flows, financial condition, and results of operations.
Revenues are significantly dependent on certain geographical regions, and adverse developments in these regions could adversely impact business, financial condition, and results of operations.
The company requires certain approvals, licenses and permits for its operations, and failure to obtain or renew them in a timely manner may adversely affect business.
Manufacturing operations are concentrated in Maharashtra, exposing the company to regional and local risks.
Exposure to technological obsolescence in a rapidly evolving manufacturing and fabrication landscape could materially and adversely impact competitive positioning, revenue growth, and long-term sustainability.
The company faces intense competition from international players with larger R&D budgets, which may adversely affect market share, pricing, and growth prospects.
Allotment is decided and published by the issue’s registrar, not by the exchange and not by alphave. For TECHNOCRATS PLASMA SYSTEMS LIMITED, the registrar is Maashitla Securities Private Limited — allotment is finalised in the days between the issue closing on 18 Aug 2026 and listing on 21 Aug 2026.
By Maashitla Securities; check with PAN, application no. or DP ID
Refunds & UPI unblockTentative
Thu, 20 Aug, 2026
Unallotted amounts released · allotted shares credited to demat
Listing
Fri, 21 Aug, 2026
BSE SME · trading from 10:00 am IST
Allotment and refund dates follow SEBI’s T+3 listing timeline in trading days and are tentative until the registrar and the exchange confirm them. alphave does not hold allotment results — only the registrar can show whether an application was allotted.
The registrar publishes allotment on its own portal: Maashitla. Your bank will also show the blocked amount released if shares were not allotted.
Technocrats Plasma Systems DRHP & RHP FAQs
Where can I read the Technocrats Plasma Systems DRHP or RHP?
The offer document for the Technocrats Plasma Systems Limited IPO is linked on this page as filed with the exchange; SEBI and the lead managers also host it.
What is a DRHP?
The Draft Red Herring Prospectus is the document a company files with SEBI before an IPO. It describes the business, the financials, the risk factors, the promoters and how the money raised will be used. The Red Herring Prospectus (RHP) is the version filed just before the issue opens, with the price band and dates added.
What are the strengths disclosed in the Technocrats Plasma Systems DRHP?
The company has over three decades of experience since 1994, serving institutional clients across government, PSUs, and private sectors, fostering deep industry insight and enduring client trust. Indigenous design and technological innovation with in-house R&D supporting CNC plasma cutters, automated welding, energy-efficient systems, and digital integration. Comprehensive and customizable product portfolio including plasma cutting machines, welding equipment, and automation-ready systems adaptable with CNC integration and special modifications. The page lists all 7 as disclosed.
What are the key risks disclosed in the Technocrats Plasma Systems DRHP?
Substantial portion of revenue from top 10 customers makes the company vulnerable to loss of customers or reduction in business. Dependence on few suppliers for material requirements and lack of definitive agreements expose the company to risks. Any disruptions to supply or increases in pricing of raw materials and finished products may adversely affect business, cash flows, financial condition, and results of operations. The page lists all 8 disclosed risk factors.
Technocrats Plasma Systems IPO Registrar where allotment and refund queries go
RegistrarMaashitla Securities Private Limited
The registrar processes the allotment and the refunds. Contact details are as printed in the offer document; the exchange and your broker cannot change an allotment.
How to Apply for the Technocrats Plasma Systems IPO ASBA and UPI, as SEBI sets them
Apply through your broker’s IPO window or your bank’s net banking (ASBA). The money stays in your own account and is only blocked until allotment.
Choose the number of lots and bid at the cut-off price. SME issues take a minimum application of two lots, so the smallest valid bid is the amount shown in the lot table above.
If you applied through a broker, approve the UPI mandate in your payment app. The mandate must be approved by 5 pm on the day after your bid, and by 5 pm on the closing day for bids made on the last day (18 Aug 2026).
One application per PAN. A second application under the same PAN is rejected, and both may be.
After allotment the blocked amount is released for shares not allotted. Allotment and refund queries go to the registrar, Maashitla Securities Private Limited, not to the exchange or the broker.
What is GMP in an IPO?
Grey Market Premium is the price at which an unlisted IPO application or share changes hands informally, before the stock is listed on the exchange. It is quoted as a rupee figure over the issue price: a premium of ₹32 on a ₹132 upper band means the grey market is dealing at ₹164.
The grey market is an over-the-counter market between private dealers. It is not operated or supervised by NSE, BSE or SEBI, no trade is settled through a clearing corporation, and no dealer is obliged to publish or honour a quote. Figures are collected by third-party reporters and different sources routinely disagree, which is why a premium can move sharply within a day or vanish entirely once bidding closes.
Grey Market Premium is an unofficial, unregulated over-the-counter datapoint reported by third parties. It is not a price, a forecast, or an indication of listing gains, and is not investment advice.