An Engineering, Procurement and Construction Services specialist, got closed at Rs 296.95 with a staggering 23.73% high on its listing day today. With the issue price of Rs 240/-, Technofab Engineering Ltd. opened at Rs 265/- per share, and made a high of Rs 307.80.
The 29,00,000 shares IPO which got subscribed at a record 12.78% in the current market got a remarkable opening trade with a total volume of shares that were traded on NSE was 1.53 Lakh with 95 Lakh shares on BSE.
In a Press Conference at the listing ceremony at BSE today, Mr. Avinash Gupta, CMD, Technofab Engineering Limited, said the company is growing at a CAGR of 48% which he hopes to sustain momentum for FY11 as well. He also mentioned that FY11 sales are expected at Rs 300 Crores and Profit After Tax at Rs 28 Crores along with EPS of Rs 28/- per share respectively.
Technofab Engineering Ltd., (TEL) is engaged in the business of providing 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, got listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Apart from projects in India, the company has also got operations in African countries like Ghana, Kenya, Fiji and Ethiopia.
