First SME IPO on NSE: Thejo Engineering opens on Sept 4
Chennai-based Thejo Engineering proposes to enter the capital markets on September 4, 2012 with a public issue aggregating upto Rs 21 crore through a book building process. The price band has been fixed at Rs 402 to Rs 430 per equity share of Rs 10 each and the issue closes on September 6, 2012.
Thejo Engineering Limited is an engineering solutions provider for bulk material handling, mineral processing and corrosion protection to the core sector industries like mining, power, steel, cement, ports, fertilizers etc.
CRISIL has assigned fundamental grade of ‘SME 5/5′ to IPO indicating that the fundamentals of the IPO are excellent as compared to other SMEs in India.
IDBI Capital Market Services Limited is the sole book running lead manager for the issue and Cameo Corporate Services Limited is the registrar to the Issue.
This is the first stock that is proposed to be listed on Emerge the SME platform by NSE.
On a standalone basis, the company’s total revenue touched Rs 117.86 crore for the year ended March 31, 2012 as against Rs 96.20 crore in FY 2010-11 and Rs 65.96 crore for FY 2009-10. The profits after tax (PAT) for the corresponding periods was Rs 9.02 crore, Rs 3.83 crore and Rs 2.27 crore, respectively. Over FY09-10 to FY11-12, revenue has grown
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