October 3, 2024
New Delhi, India
TechEra Engineering Shares
TechEra Engineering (India) Ltd. made a remarkable debut on the NSE SME platform on October 3, with its shares listing at ₹125 per share, reflecting a 52.5% premium over the IPO price of ₹82. This impressive listing signals strong investor confidence in the company, particularly given the high demand for the initial public offering.
IPO Details:
- IPO Price Range: ₹75 to ₹82 per share
- Issue Size: ₹35.90 crore
- Subscription Period: September 25 to September 27, 2024
- Subscription Level: Oversubscribed 70 times
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Investor Interest:
The IPO saw strong demand across various investor segments:
- Non-Institutional Investor (NII): Oversubscribed 128.88 times
- Retail Investors: Oversubscribed 66.52 times
- Qualified Institutional Buyers (QIB): Oversubscribed 31.22 times
Also Read: Adani Enterprises to Raise $1.3 Billion via QIP, Share Sale Likely to Begin Next Week
Key Objectives of the IPO:
The IPO proceeds will primarily be used to:
- Fund capital expenditures, including the purchase of new machinery to enhance operational efficiency.
- Meet working capital requirements, ensuring sufficient liquidity for day-to-day operations.
About TechEra Engineering:
Founded in October 2018, TechEra Engineering designs, manufactures, and supplies precision tooling and components for the aerospace and defence sectors, as well as offering automation system solutions. Its advanced manufacturing capabilities include 5-axis machining and 3-D modelling, which enable the company to deliver precision-engineered products tailored to the needs of its clients.
Product Portfolio:
- Assembly Toolings
- Jigs and Fixtures
- Maintenance, Repair, and Overhaul (MRO) Toolings
- Ground Support Equipment
- Precision Machined Components
TechEra Engineering has also been involved in significant projects, such as the vertical fin assembly line for commercial aircraft and the fighter wing skin layup tool, demonstrating its ability to handle complex and high-stakes engineering tasks.
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