TechEra Engineering IPO

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25th – 27th Sep 2024
03 Oct 2024
₹75 – ₹82
Lot size 1600 — ₹131200
36cr

Schedule of TechEra Engineering

Issue open date 25 Sep 2024
Issue close date 27 Sep 2024
UPI mandate deadline 27 Sep 2024 (5 PM)
Allotment finalization 30 Sep 2024
Refund initiation 01 Oct 2024
Share credit 01 Oct 2024
Listing date 03 Oct 2024
Mandate end date 12 Oct 2024
Lock-in end date for anchor investors (50%) 30 Oct 2024
Lock-in end date for anchor investors (remaining) 29 Dec 2024

Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.

About TechEra Engineering

TechEra Engineering (India) Limited is a precision tooling and automation solutions provider for the aerospace and defense industries. Established in 2018, the company offers a range of products including assembly tooling, jigs, fixtures, MRO tooling, ground support equipment, and precision machine components. They use advanced technologies like 5-axis machining and 3D modeling to meet the high standards of their target sectors.

TechEra is certified under ISO 9001:2015 and AS9100D:2018, demonstrating its commitment to quality. The company has completed complex engineering projects, such as manufacturing tooling for commercial aircraft and fighter jet components.


Financials of TechEra Engineering


Issue size

Funds Raised in the IPO Amount
Overall ₹35.90 crores
Fresh Issue ₹35.90 crores
Offer for sale

Utilisation of proceeds

Purpose INR crores (%)
Funding capital expenditure for purchasing new machinery 20 (55.71%)
Working capital requirements 6 (16.72%)
Pre/repayment of outstanding borrowings 5 (13.93%)
General corporate purposes 4.90 (13.64%)

Strengths

  • Specialized in aerospace and defense manufacturing.
  • Invests in advanced manufacturing technologies.
  • Has experienced leadership in aerospace and automation.
  • Recognized for quality and excellence through certifications.

Risks

  • Reliance on a single manufacturing facility poses significant risks.
  • Delayed payment of government dues and penalties indicates financial instability.
  • Dependence on third-party suppliers for raw materials can disrupt operations.
  • Past financial losses highlight the company’s financial instability.
  • Legal and regulatory issues, such as criminal proceedings, could impact the company’s reputation and operations.