TechEra Engineering IPO 2024: Opening Date, Issue Price, and Key Details

TechEra Engineering India Ltd opened its Initial Public Offering (IPO) for subscription. This IPO aims to raise approximately ₹35.90 crores through a fresh issue of 43.78 lakh equity shares. The price band for the shares is set between ₹75 and ₹82 per share, making it an attractive opportunity for retail investors looking to enter the market.

TechEra Engineering IPO Details

The TechEra Engineering IPO is an opportunity for investors to participate in a growing company within the engineering sector. Here are the essential details:

• Issue Price: ₹75 – ₹82
• Lot Size: 1,600 shares
• Total Issue Size: ₹36 crores
• Subscription Dates: September 25, 2024, to September 27, 2024
• Listing Date: Expected to be October 2, 2024, on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) [1].

TechEra Engineering IPO Reservation

The IPO is reserved for various categories of investors. The following is the breakdown:

• Qualified Institutional Buyers (QIB): 50%
• Non-Institutional Investors (NII): 15%
• Retail Individual Investors (RII): 35%

This reservation ensures that the offering is accessible to different types of investors, creating a balanced approach to funding.

TechEra Engineering IPO Launch Date

The IPO subscription period runs from September 25 to September 27, 2024. This three-day window allows investors to place their bids for shares in this promising company. The allotment of shares is expected to be finalized on September 30, 2024, with the shares listed on the NSE SME platform on October 3, 2024.

How to Apply for TechEra Engineering IPO

Investors can apply for the TechEra Engineering IPO through various platforms, including online brokerage accounts and banks that provide IPO services. The minimum lot size is set at 1,600 shares, requiring a minimum investment of ₹131,200 at the upper price band of ₹82 per share.

TechEra Engineering IPO Prospectus Analysis

The Red Herring Prospectus (RHP) outlines that 50% of the offer is reserved for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for Non-Institutional Investors (NII). This structure aims to attract a diverse range of investors while ensuring that retail investors have a significant allocation.

TechEra Engineering IPO GMP Today

As of September 25, the Grey Market Premium (GMP) for TechEra Engineering stands at approximately ₹20, indicating a potential listing gain of about 24.39% over the upper price band. This suggests strong demand and positive sentiment around the stock prior to its official listing.

TechEra Engineering IPO Subscription Status

Currently, the subscription status indicates that interest levels are building as investors consider the company’s growth potential in the aerospace and defense sectors. The company has reported a robust financial performance, with revenues increasing significantly over the past year.

TechEra Engineering IPO Allotment Date

The allotment of shares will take place on September 30, 2024. Investors will be notified via email or SMS regarding their allotment status. Unsuccessful bidders will receive refunds starting from October 1, 2024.

TechEra Engineering IPO Listing Price Prediction

Based on current market trends and the GMP, analysts predict that TechEra Engineering’s shares could list around ₹102 per share, reflecting strong investor interest and market confidence in the company’s future growth.

TechEra Engineering IPO Financials Review

For FY24, TechEra Engineering reported revenues of ₹39.08 crores, a substantial increase from ₹26.59 crores in FY23. The company also achieved a profit after tax of ₹4.82 crores, compared to just ₹1.31 crores in the previous year. This growth trajectory indicates a solid business model and effective management strategies.

TechEra Engineering IPO DRHP Highlights

The Draft Red Herring Prospectus (DRHP) highlights that proceeds from this IPO will be utilized for various purposes, including working capital needs, capital expenditures, and repayment of debt obligations. This strategic allocation aims to enhance operational efficiency and support future growth initiatives.

TechEra Engineering IPO Lot Size and Price Band

The lot size is fixed at 1,600 shares, which means investors must be prepared to invest at least ₹131,200 if they wish to participate fully in this offering. The price band ranges from ₹75 to ₹82, providing flexibility depending on investor interest and market conditions.

TechEra Engineering IPO Promoter Holding Details

The promoters of TechEra Engineering include Nimesh Rameshchandra Desai, Meet Nimesh Desai, and Kalpana Nimesh Desai. Their experience in the aerospace sector adds credibility to the company’s operations and strategic direction.

TechEra Engineering IPO Risks and Concerns

Investors should note potential risks associated with investing in this IPO, including market volatility and sector-specific challenges within the aerospace industry. It is crucial to conduct thorough research and consider these factors before making investment decisions.

TechEra Engineering IPO Grey Market Premium Trend

The grey market premium reflects speculative trading before an official listing and can provide insights into investor sentiment. Currently trending at ₹20 suggests optimism among traders regarding the stock’s performance post-listing.

TechEra Engineering IPO Retail Investor Allocation

With 35% of shares allocated for retail investors, there is ample opportunity for individual investors to participate in this offering. This allocation is designed to encourage wider public participation in the company’s growth story.