Technofab Engg files red herring prospectus with RoC for IPO

MUMBAI: Technofab Engineering on Monday said it has filed the red herring prospectus with the Registrar of Companies ( RoC) for its proposed initial public offer.

The company plans to come out with an IPO of 29.90 lakh equity shares of face value of Rs 10 each and has filed the red herring prospectus with the RoC, NCT of Delhi and Haryana, it said in a statement.

The issue comprises of a reservation of 50,000 equity shares of Rs 10 each for eligible employees.

The issue will constitute 28.50 per cent of the post issue paid-up equity capital of the company. The net issue will constitute 28.03 per cent of the post issue paid-up equity capital of the company, it said.

The company will utilise IPO proceed to fund its various expansion plans including setting up a maintenance and storage facility and a training centre for employees.

Technofab Engineering (TEL) provides 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.