TechEra Engineering IPO Subscription Status

TechEra Engineering's initial public offering (IPO) has garnered significant investor interest, with subscription rates increasing dramatically over the three-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in a 69.80 times oversubscription by the end of day three. This response underscores the strong market appetite for TechEra Engineering's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 25th September 2024, has seen significant growth in investor participation across all categories. TechEra Engineering attracted bids for 20,32,44,800 equity shares amounting to ₹1,666.61 crore.

The Non-Institutional Investors (NII) segment, in particular, has shown overwhelming demand, followed by strong interest from Retail Investors and Qualified Institutional Buyers (QIB).

Subscription Status of TechEra Engineering IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Here are the subscription details for TechEra Engineering IPO as of Day 3 (27th September 2024):

Total Applications: 60,532 (66.52 times)

Note: The total amount is calculated based on the final issue price or the price in the upper price range.

Key Highlights:

• The IPO of TechEra Engineering is currently subscribed 69.80 times, with exceptional demand from Non-Institutional Investors.
• Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 128.88 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 66.52 times.
• Qualified Institutional Buyers (QIB) have shown significant interest, with a subscription ratio of 31.22 times.
• The overall subscription trend increased dramatically day-on-day, indicating high investor confidence and positive sentiment towards the issue.

TechEra Engineering IPO - Day 2 Subscription at 8.34 Times

Key Highlights:

• On Day 2, TechEra Engineering's IPO was subscribed 8.34 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 13.56 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 6.92 times.
• Qualified Institutional Buyers (QIB) showed minimal interest with a subscription ratio of 0.27 times.
• The overall subscription trend indicated building momentum, with retail and NII categories showing significant increased participation.

TechEra Engineering IPO - Day 1 Subscription at 2.10 Times

Key Highlights:

• The IPO of TechEra Engineering was subscribed 2.10 times on Day 1, with initial demand primarily from Retail Investors.
• Retail investors showed early strong interest with a subscription ratio of 3.13 times.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 2.41 times.
• Qualified Institutional Buyers (QIB) showed no initial interest with a subscription ratio of 0.00 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About TechEra Engineering Limited:

TechEra Engineering Limited, established in 2018, is a specialised manufacturer and supplier of high-precision tooling and components for the aerospace and defence industries. Driven by its cutting-edge manufacturing technologies and industry-specific expertise, the company has rapidly become a notable player in this niche market.
TechEra offers various products, including assembly tools, jigs and fixtures, maintenance and repair tools, ground support equipment, and precision machined components. These products are tailored to meet the stringent demands of aerospace and defence applications.

The company employs advanced manufacturing techniques like 5-axis machining and utilises 3D modelling and AR/VR technologies for design visualisation, ensuring high-quality and efficient production.

For FY 2024, TechEra achieved a revenue of ₹39.08 crore, reflecting a 47% YoY growth. Profit After Tax stood at ₹4.82 crore, marking a substantial 270% YoY growth. Key indicators include a Return on Equity (ROE) of 30.33% and a Return on Capital Employed (ROCE) of 23.47%, with a Debt-to-Equity ratio of 0.9 and a PAT margin of 12.45%.
As of September 2024, TechEra has a team of 177 full-time qualified professionals, each contributing to its robust manufacturing and design capabilities.

Read more about TechEra Engineering IPO

Highlights of the TechEra Engineering IPO:

• IPO Date: 25th September 2024 to 27th September 2024
• Listing Date: 3rd October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹75 to ₹82 per share
• Lot Size: 1600 Shares
• Total Issue Size: 4,377,600 shares (aggregating up to ₹35.90 Cr)
• Fresh Issue: 4,377,600 shares (aggregating up to ₹35.90 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: SKI Capital Services Limited
• Registrar: Kfin Technologies Limited
• Market Makers: SKI Capital Services and Acme Capital Market