Technofab Engineering is a medium sized electromechanical Engineering and Construction Company, serving the Power, Industrial and Infrastructure sectorss engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects.
The company has a long term capital requirement of 30 Crore and also require financil procurement of around 16.24 crore for construction equipment. The other requirements for funds is for setting up of maintenance and storage facilities for construction equipment for Rs 4.99 crore, setting up of a training centre for employees for Rs 5.41 crore.
The company has listed its equity shares on 16th july which were recently issued via public issue. The issue price was fixed at 240 per share which is higher of the 230-240 band.
On 16th july, the stock started trading at 272 rupees which rose to 280.35 rupees in the early hours.
The analysis shows that the company raised 718 million rupees in the initial share sale. This is a remarkable rise of as much as 20 percent on its first trading day in Mumbai today. The stock seems to be a promising one.
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