Tecpro Systems (TSL), engaged in the business of undertaking turnkey projects in bulk material handling systems including raw material handling systems for power, steel, cement plants etc. Tecpro is entering the capital market with an initial public offering (IPO) through a book built issue of 6,000,000 equity shares.
The total issue will constitute 22.33% of the fully diluted post issue paid-up capital of the company.
TSL has made Pre – IPO placement of 1,300,000 equity shares of Rs 10/-each. 10 lakh equity shares have been allotted to Credit Suisse Pe Asia Investments (Mauritius) Ltd. and 300,000 equity shares to Kotak Mahindra Capital Company Limited, both at the price of Rs 240 per share including premium of Rs 230 per share.
The total size of this pre-IPO placement is Rs 312.00 million and shares given to investors under placement constitute approximate 5% equity shares of pre issue (post pre IPO placement) paid up share capital of the company.
TSL, promoted by Mr Ajay Kumar Bishnoi, chairman & managing director and Mr. Amul Gabrani, vice chairman & managing director, installs conveyor systems and manufactures equipment such as crushers, screens, feeders, conveyor components like Idlers and pulleys and undertakes structural steel fabrication.
Source: Money Control