TechEra Engineering India was incorporated on October 03, 2018. The company designs and manufactures precision tooling and components for the aerospace and defense industries, including automation solutions. Its product portfolio includes assembly tooling, jigs, fixtures, maintenance, repair, ground support equipment, and precision machined components.
| Bidding Dates |
|---|
| 25 Sep 2024 - 27 Sep 2024 |
| Subscription |
|---|
| 65.35x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1600 | 4.4 M | ₹75 - ₹82 | 42.25 % | ₹328.3 M - ₹359.0 M | RHP DOC |
Techera Engineering India Ltd. IPO SUBSCRIPTION STATUS
27 Sep '24Techera Engineering India Ltd. IPO overall subscription rate was 65.35 times the total available shares
Techera Engineering India Ltd. IPO retail subscription rate was 89.37 times in the retail segment
Techera Engineering India Ltd. IPO non-institutional investor subscription rate was 171.82 times in the non-institutional investor category
Techera Engineering India Ltd. IPO Qualified Institutional Bidder subscription rate was 16.59 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Sep 2024 (Day 3) | 89.37x | 171.82x | 16.59x |
26 Sep 2024 (Day 2) | 17.62x | 9.6x | 0.15x |
25 Sep 2024 (Day 1) | 3.73x | 4.21x | 0x |
Techera Engineering India Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 48.2 | 387.5 | 40.4 | 16.3 | 23.3% |
| FY23 | 13.1 | 264.3 | -11.8 | -57.2 | 16.1% |
| FY22 | -62.9 | 71.8 | -69.5 | -85.1 | -49.8% |
Techera Engineering India Ltd. IPO SUBSCRIPTION STATUS DETAILS
Techera Engineering India Ltd. had 4.4 M shares on offer
Techera Engineering India Ltd. IPO offer price was in the range ₹75 - ₹82
Techera Engineering India Ltd. IPO minimum Investment was ₹120000
Techera Engineering India Ltd. IPO issue size was ₹ 328.3 M - ₹ 359.0 M
Techera Engineering India Ltd. had a minimum lot size of 1600 Shares per application
Techera Engineering India Ltd. NUMBER OF SHARES ON OFFER
Techera Engineering India Ltd. IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2024 |
| Issue close Date | 27 Sep 2024 |
| Allotment Date | 30 Sep 2024 |
| Refund Date | 01 Oct 2024 |
| Demat Account Credit Date | 01 Oct 2024 |
| Listing Date | 03 Oct 2024 |
| Listing on Exchange(s) | NSE |
| Techera Engineering India Ltd. Allotment Status | Exchange |
Techera Engineering India Ltd. IPO subscription opened on 25 Sep 2024, and closed on 27 Sep 2024
IPO allotment for Techera Engineering India Ltd. was finalized on Monday, 30 Sep 2024
IPO listing for Techera Engineering India Ltd. was on NSE on Thursday, 03 Oct 2024
Techera Engineering India Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 82.0 |
| Listing Open Price | 125.0 |
| Listing Close Price | 131.3 |
| Listing Gain% | 52.4% |
| Current Gain% | 122.9% |
Techera Engineering India Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TechEra Engineering (India) Ltd. | 182.8 | 301.9 | 109.1 | -6.2 | 6.2 | 5.3 | 2.7 | 48.8 | -2.2 | 2.8 | -17.6 | 1.7 | -17.6 |
| Hindustan Aeronautics Ltd. | 4910 | 328368.5 | 36 | 4 | 9.9 | 22.2 | 6.9 | 36788 | 9.7 | 9115.6 | 9 | 136.3 | 9 |
| Bharat Electronics Ltd. | 401 | 293122.1 | 47.7 | 4.1 | 10.2 | 25.3 | 13.6 | 28176.1 | 15 | 6062 | 13.9 | 8.4 | 11.7 |
| Mazagon Dock Shipbuilders Ltd. | 2514.9 | 101446 | 35.5 | 1.1 | 7.6 | 26.5 | 9.4 | 14145.7 | 12.7 | 2583.3 | 7 | 70.8 | 31.7 |
| Bharat Dynamics Ltd. | 1294 | 47433.2 | 112.8 | -4.8 | 19.4 | 9.9 | 2.9 | 2865.6 | -22.5 | 420.3 | -23.5 | 11.5 | -23.5 |
| Garden Reach Shipbuilders & Engineers Ltd. | 2599 | 29772.1 | 37.2 | 0.9 | 4 | 28.5 | 7 | 7276.5 | 34.5 | 747.9 | 41.8 | 69.9 | 42.9 |
Techera Engineering India Ltd. INFORMATION ON IPO ISSUE
About Techera Engineering India Ltd.
TechEra Engineering India was incorporated on October 03, 2018. The company designs and manufactures precision tooling and components for the aerospace and defense industries, including automation solutions. Its product portfolio includes assembly tooling, jigs, fixtures, maintenance, repair, ground support equipment, and precision machined components.
Object of the Issue
- Funding capital expenditure for the purchase of new machinery
- Funding working capital requirements
- Re/prepayment of all or certain loans availed of by the company
- General corporate purposes
- To meet the issue expenses
Techera Engineering India Ltd. - PROMOTERS
| Name |
|---|
| Nimesh Rameshchandra Desai |
| Meet Nimesh Desai |
Techera Engineering India Ltd. Lead Manager of the Issue
Ski Capital Services Limited
tel@skicapital.net
Techera Engineering India Ltd. Registrar to the issue
KFin Technologies Limited
teil.ipo@kfintech.com
Techera Engineering India Ltd. Strengths
Specialized expertise
The company has expertise in aerospace and defense manufacturing, specializing in assembly tooling, jigs, fixtures, and precision machined components. Its focus on niche markets is a key characteristic of its operations
Technical capabilities
The company invests in advanced manufacturing technologies, such as 5-axis machining and augmented/virtual reality for design visualization, positioning itself for high-precision, complex projects
Recognitions and certifications
The company has received awards and certifications from reputable organizations which reflects its commitment to quality and excellence in its operations
Techera Engineering India Ltd. Risks
Dependent on key customers
The company's business relies heavily on key customers, with 50.9% of revenue in FY24 coming from the top three clients. Losing any of these clients could significantly impact operations, financial health, cash flows, and future prospects
Dependent on a single manufacturing facility
The company depends entirely on a single manufacturing facility for revenue, and any disruption or shutdown could harm their operations, financial health, and future prospects
Non-compliance
The company has not complied with certain statutory provisions of the companies act, which may result in penalties and actions against it and its directors, potentially affecting its financial position
IPO FAQs
The promoters of the company are Nimesh Rameshchandra Desai and Meet Nimesh Desai.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 75.0 - 82.0.
The IPO application opens on Sep 25, 2024 and closes on Sep 27, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 131,200.0.
This IPO will be allotted on Sep 30, 2024.
The refund will be credited to your account on Oct 01, 2024.
The allotted shares will be credited to your demat on Oct 01, 2024.
Techera Engineering India Ltd.’s shares listed on the stock exchanges on Oct 03, 2024.