Subscribe to Technofab Engg IPO for listing gains:Bonanza
Bonanza Portfolio has advised investors with risk appetite to apply for Technofab Engineering’s initial public offering for listing gains.
By Agencies |
MUMBAI: Bonanza Portfolio has advised investors with risk appetite to apply for Technofab Engineering’s initial public offering for listing gains.
The company entered the capital market Tuesday with public issue of 29.90 lakh shares in the price band of Rs 230-240 per share. The 100 per cent book building issue will close Friday.
“Technofab Engineering has been able to increase the average order size over the years. It had reported good financial performance in the past. However, the PBDIT margin has risen very sharply since FY08. In the first half of FY10, PBDIT margin is higher than the industry and so it would be a challenge for the company to sustain these levels. Investors with risk appetite may apply for listing gains,” the report said.
The company is engaged in the business of providing Engineering Procurement and Construction ( EPC) services, executing a wide range of Balance-of-Plant (BoP) and electromechanical projects on a complete turnkey basis.
It plans to use the proceeds to meet long-term working capital requirements, finance the procurement of construction equipment, finance setting up of maintenance and storage facility for construction equipment and for setting up of training centre for employees.
The company entered the capital market Tuesday with public issue of 29.90 lakh shares in the price band of Rs 230-240 per share. The 100 per cent book building issue will close Friday.
“Technofab Engineering has been able to increase the average order size over the years. It had reported good financial performance in the past. However, the PBDIT margin has risen very sharply since FY08. In the first half of FY10, PBDIT margin is higher than the industry and so it would be a challenge for the company to sustain these levels. Investors with risk appetite may apply for listing gains,” the report said.
The company is engaged in the business of providing Engineering Procurement and Construction ( EPC) services, executing a wide range of Balance-of-Plant (BoP) and electromechanical projects on a complete turnkey basis.
It plans to use the proceeds to meet long-term working capital requirements, finance the procurement of construction equipment, finance setting up of maintenance and storage facility for construction equipment and for setting up of training centre for employees.
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