Technofab Engineering gets Sebi nod for IPO

New Delhi: Technofab Engineering Ltd, engaged in the business of providing engineering procurement and construction services and executing a wide range of balance-of-plant and electro-mechanical projects, has received the Sebi nod for its proposed IPO.

Technofab Engineering proposes to enter the capital market with an IPO of 29,90,000 equity shares of the face value of Rs10 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 Rs10 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.