India PR Distribution
Mumbai (Maharashtra) [India], September 23: TechEra Engineering (India) Limited, a key innovator in precision tooling and components for the aerospace and defence industries, proposes to open its Initial Public Offering on September 25, 2024, aiming to raise Rs 35.90 Crores, with shares to be listed on the NSE Emerge platform.
The issue size is Up To 43,77,600 equity shares at a face value of Rs 10 each.
* Fresh Issue Size - 43,77,600 Equity Shares of Rs 10 each
* Issue Size - Rs 35.90 Crores (At Upper Band)
* Price Band - Rs 75 - Rs 82 Per Share
* Lot Size - 1,600 Equity Shares
Equity Share Allocation
* QIB Anchor Portion - Not More Than 12,46,400 Equity Shares
* Qualified Institutional Buyer - Not More Than 8,32,000 Equity Shares
* Non-Institutional Investors - Not Less Than 6,24,000 Equity Shares
* Retail Individual Investors - Not Less Than 14,56,000 Equity Shares
* Market Maker - 2,19,200 Equity Shares
The net proceeds from the IPO will be utilized for Funding capital expenditure, working capital requirements, Prepayment or repayment of borrowings and General corporate purposes. The anchor portion will open on September 24, 2024 and issue will close on September 27, 2024.
The Book Running Lead Manager to the Issue is SKI Capital Services Limited, The Registrar to the Issue is KFIN Technologies Limited.
Nimesh Rameshchandra Desai, Managing Director, of TechEra Engineering (India) Limited expressed, "We are entering a transformative phase in our company's journey. Since our inception, we have become one of the prominent provider of high-quality precision tooling and components for the aerospace and defence sectors. The funds raised will be strategically invested in additional machinery to boost our production capacity, strengthen our working capital, and enhance our design capabilities through advanced technologies like 5-axis machining and AR/VR technology.
This IPO represents a crucial milestone for the company, serving as a catalyst for innovation and leadership in our field. We are committed to driving technological advancement and expanding our capabilities."
Ghanisht Nagpal, Partner Investment Banking at SKI Capital Services Limited said, "We are pleased to be involved in this IPO, as the aerospace components manufacturing sector in India is seeing steady growth. The domestic market is expanding, supported by initiatives like 'Make in India' and increasing demand in both defence and commercial aviation. This IPO will allow the company to strengthen its operations and meet the growing opportunities in this sector."
TechEra Engineering (India) Limited:
TechEra Engineering (India) Limited specialize in designing, manufacturing, and supplying precision tooling and components for the aerospace and defence industries. The company offers a range of products, including assembly tooling, jigs, fixtures, maintenance, repair, and MRO tooling, ground support equipment, and precision machined components. The company uses advanced technologies such as 5-axis machining and AR/VR technology for design visualization. The company, certified ISO 9001:2015 and AS9100D:2018, excels in complex engineering projects and is dedicated to driving technological advancement and continuous improvement.
In FY24, The Company achieved a Revenue of Rs 3,874.88 Lakhs, EBITDA of Rs 901.38 Lakhs, & PAT of Rs 482.25 Lakhs.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Website: skicapital.net
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