TechEra Engineering (India) had a fantastic debut on the stock market on Thursday, October 3, with its shares listed at ₹125 on the NSE SME. This is a remarkable 52.5% increase over its IPO price of ₹82.
The SME IPO, worth ₹35.90 crore, was open for subscription from September 25 to September 27 and was priced between ₹75 and ₹82 per share. The IPO included only a fresh issue of 43.78 lakh shares, with no offer-for-sale. It attracted strong demand, being oversubscribed 70 times overall. The non-institutional investor segment was particularly popular, with an oversubscription of 128.88 times, while the retail portion was oversubscribed by 66.52 times. The qualified institutional buyer segment saw an oversubscription of 31.22 times.
The company plans to use the funds raised primarily to buy new machinery for improving operational efficiency and to cover working capital needs for daily operations.
Founded in October 2018, TechEra Engineering (India) Limited specializes in designing and manufacturing precision tooling and components for the aerospace and defense sectors. Their products include assembly tooling, jigs, fixtures, and ground support equipment. The company uses advanced technologies like 5-axis machining and 3D modeling to meet the specific needs of its industries.
TechEra has participated in significant projects, such as creating tooling for commercial aircraft assembly and fighter wing components, showcasing its ability to handle complex engineering tasks. The company is committed to technological advancement and improving the sectors it serves through innovation and continuous improvement.
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