TechEra Engineering IPO allotment: Here’s how to check status on NSE, Kfin Tech

TechEra Engineering Limited IPO share allotment status is likely to be finalised on Monday, September 30. The bidding for the company’s ₹35.9-crore public offer closed on Friday, September 27.

The NSE SME issue received a strong response from retail and non-institutional investors and was booked around 70 times the shares on offer.

Investors are keenly waiting for TechEra Engineering Ltd. to finalise the share allotment status. Successful bidders who participated in this IPO will be informed about the allotment through emails and SMS. Investors can also find out about the share allotment status on the issue registrar's website, Kfin Technologies, and the NSE.

Steps to check TechEra Engineering Ltd IPO share allotment on the registrar’s website

• Open Kfin Technologies Ltd’s official website (https://www.kfintech.com)
• Go to the Products section
• Under the Investor option, select IPO share allotment status
• Select TechEra Engineering from the dropdown menu for IPO names
• Enter any of these- application number, PAN, or Demat account number/Client ID
• Enter the captcha code and click ‘Submit’

Steps to check TechEra Engineering Ltd share allotment status on NSE

• Open the NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to register on NSE website).
• Select TechEra Engineering Ltd
• Verify PAN details
• Enter IPO application number
• Click on Submit

TechEra Engineering Ltd IPO details

TechEra Engineering IPO was open for subscription from September 25 to September 27. The IPO comprised a fresh issue of 43.78 lakh shares and no offer-for-sale component. The company fixed the price band at ₹75 and ₹82 per share for the book-built issue. The minimum lot size was 1,600 shares and the minimum investment required was ₹1,31,200 for retail investors.

According to the RHP, the company will initiate refunds and credit of shares to the Demat accounts of successful bidders on October 1. TechEra Engineering IPO listing date has been tentatively fixed as October 3. Shares of TechEra Engineering Limited will be listed on the NSE SME platform.

TechEra Engineering Ltd IPO booked 70 times

At the close of bidding on September 27, TechEra Engineering IPO received a total subscription of 70 times. Applications for more than 20.34 crore shares were received against 29.12 lakh shares on offer in the three-day bidding period.

The Non-Institutional Investors’ portion was booked 129.22 times. NIIs placed bids for 8.06 crore shares against 6.24 lakh shares reserved for the category. Retail individual investors placed bids for 9.68 crore shares against 14.56 lakh shares on offer. The retail portion was subscribed 66.51 times. The Qualified Institutional Buyers (QIBs) placed bids for 2.59 crore shares against 8.32 lakh shares on offer. The category was booked 31.21 times.

Earlier the company raised ₹10.22 crore from anchor investors. The company allotted 12,46,400 shares to eight fund schemes at a price of ₹82 per share, the upper limit of the price band. Maharashtra Defense and Aerospace Venture Fund, Nav Capital VCC, Vikasa India EIF (Incube Global Opportunities, Ashika Global Securities Private Limited and J4S Venture Fund are among the anchor investors.

About TechEra Engineering

Founded in 2018, TechEra Engineering is a supplier of precise tooling and components for aerospace and defence industries. The company also offers automation system solutions. Its product range includes 3D modelling, assembly tools and precision machined components, and leveraging advanced manufacturing technologies like 5-axis machining.

TechEra Engineering has proposed to utilise IPO proceeds to meet capital expenditures to buy new machinery and fund working capital requirements. It will also use funds for prepaying or repaying a portion of certain outstanding loans.