Technofab Engineering gets SEBI nod for its IPO
Technofab Engineering Limited has received SEBI nod for its IPO. Technofab Engineering proposes to enter the capital markets with an IPO of 29,90,000 equity shares of face value of Rs.10 each for cash at a price to be decided through a 100% book-building process. The issue comprises of a reservation of 50,000 Equity shares of Rs.10 each for eligible employees.
The issue will constitute 28.50% of the post issue paid-up equity capital of the company. The net issue will constitute 28.03% of the post issue paid-up equity capital of the company.
Incorporated in 1971, Technofab is 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 on a complete turnkey basis. It provides services across a number of industrial and infrastructure sectors which includes conventional power, nuclear power, oil & gas, water & waste water treatment, electrical distribution & rural electrification and other industrial & infrastructure sectors.