TechEra Engineering India will hold a meeting of the Board of Directors of the Company on 12 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 125, a premium of 52.44% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% compared to its listing price. The counter hit a high of Rs 131.25 and a low of Rs 125. About 15.79 lakh shares of the company changed hands at the counter. Techera Engineering (India)'s IPO was subscribed 46.74 times. The issue opened for bidding on 25 September 2024 and it closed on 27 September 2024. The price band of the IPO was set at Rs 75 to Rs 82 per share. The IPO comprised fresh issue of 43,77,600 equity shares. The company intends to utilize the net proceeds to meet working capital requirement, funding capital expenditure for the purchase of new machinery, prepayment or repayment of a portion of certain outstanding borrowings availed by the company, issue expense and general corporate purpose. Ahead of the Techera Engineering (India) on 24 September 2024, raised Rs 10.22 crore from anchor investors. The board allotted 12.46 lakh shares at Rs 82 per share to 8 anchor investors. Techera Engineering (India) engaged in the design, manufacture and supply of precision tooling, components for the aerospace & defence industries and automation system solutions. The company's product portfolio includes assembly toolings, jigs, fixtures, maintenance, repair, and overhaul (MRO) toolings, ground support equipment, and precision machined components. It utilizes advanced manufacturing technologies, such as 5-axis machining and 3-D modelling for design visualization. The company has 177 fulltime employees. The company recorded revenue from operations of Rs 38.74 crore and net profit of Rs 4.82 crore for the period as of 31 March 2024. Powered by Capital Market - Live