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.