Companies

Thejo, first IPO on Emerge

Chennai-based Thejo Engineering Ltd. has announced plans to enter the capital market to raise Rs.21 crore through a book-building process. The public issue will open on September 4. This will be the first IPO to be listed on Emerge, the SME platform of NSE.

Price band

The price band has been fixed at Rs.402-430 per share of Rs.10 each, and the issue will close on September 6.

Thejo Engineering provides solutions for bulk material handling, mineral processing and corrosion protection to industries such as mining, power, steel, cement, ports and fertilizers.

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. The profit after tax was Rs.9.02 crore as compared to Rs.3.83 crore in the previous year.

Four units

Thejo has four manufacturing units near Chennai , and pan-India presence through 11 branch offices and 36 site offices located across 14 states. The net proceeds of the issue will be invested to set up a polyurethane unit with an investment of Rs.68.28 lakh, expansion of the existing facility with an investment of Rs.6.87 crore, setting up an R&D unit with a total outlay of Rs.2.83 crore and setting up a lining plant with a total cost of Rs.1.69 crore, all at Chennai.

The company plans to invest Rs.6.42 crore in Thejo Australia Pty Ltd., its Australian subsidiary to expand in that market.


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Printable version | Jul 30, 2021 12:40:11 AM | https://www.thehindu.com/business/companies/thejo-first-ipo-on-emerge/article3836239.ece

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