Technofab Engineering IPO : Issue Price Fixed at Upper End

by khalid on 11/07/2010 · 0 comments

Technofab Engineering Ltd (TEL) is engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis. The company has fixed its Issue Price at Rs 240 a share,the upper end of its price range which was Rs 230-240 per share. So the company is going to collect Rs 71.76 crore through this IPO.

The issue was open for subscription between June 29 to July 2. The public offering has generated good demand from investors and was subscribed nearly 13 times, with robust participation from HNIs and retail buyers.

Technofab Engineering aims to utilise the proceeds from the IPO to meet its long-term working capital requirements and for procurement of construction equipment.

Book running lead manager to the issue is Collins Stewart Inga.

Issue Detail:-
Issue Open : 29th Jun 2010 – 02nd Jul 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 2990000 Equity Shares of Rs 10 each
Issue Size : Rs. 68.77 – 71.76 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 230 – Rs. 240 Per Equity Share
Market Lot : 25 Shares
Minimum Order Quantity : 25 Shares
Listing At : BSE, NSE

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