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2012-08-30

NSE SME to get its first IPO listing

National Stock Exchange’s (NSE) platform for small and medium enterprises, EMERGE will soon see its first IPO listing. Chennai-based, engineering solutions provider, Thejo Engineering has proposed to enter the capital market on September 4 for raising up

National Stock Exchange’s (NSE) platform for small and medium enterprises, EMERGE will soon see its first IPO listing. Chennai-based, engineering solutions provider, Thejo Engineering has proposed to enter the capital market on September 4 for raising up to Rs 21crore through a book building process.

Four SME companies have already listed on rival BSE's SME Exchange.

“The company has fixed price band at Rs 402-430 per equity share of Rs 10 each,” V A George, company President and CEO told reporters.

According to the company, the three-day issue would close on September 6.

IDBI Capital Market Services Ltd is the sole Book Running Lead Manager for the issue.

The company proposes to invest the net proceeds of the issue to set up a poly-urethane unit with investment of Rs 68.28 lakh, expansion of the existing facility with an investment of Rs 6.87 crore, setting up 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.

Thejo Engineering provides for bulk material handling, mineral processing and corrosion protection to core sector industries like mining, power, steel, cement, ports and fertilisers among others.

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