Price band fixed at Rs230-Rs240
The initial public offer (IPO) of Technofab Engineering Ltd, an engineering, procurement & construction (EPC) company, will open on 29th June and close on 2nd July. The shares will be offered at a price band of Rs230 to Rs240.
The company will mop up Rs68.77-Rs71.76 crore, depending on the final issue price.
Between FY07-08 and FY09-10, Technofab\'s sales increased at a compounded annual growth rate (CAGR) of 48% and profit after tax (PAT) increased at a CAGR of 189%. Its order book stands at Rs533.74 crore as on 31 March 2010.
The company said it has placed bids for around 41 projects, worth Rs2,200 crore, in power, oil & gas and steel sectors. It expects to be the lowest bidder for around five projects worth Rs400 crore, all in the power sector.
Technofab has a presence in power, industrial infrastructure, water and oil & gas sectors and is planning to enter the railways and transport segments.
The company has operations in India, Kenya, Ethiopia, Ghana and Fiji. It plans to look for opportunities mainly in countries with projects funded by the World Bank or similar organisations.
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