Teja Engineering Industries IPO: Latest GMP, online guide for allotment status check for SME IPO

Teja Engineering Industries IPO Allotment: The initial public offering (IPO) of Teja Engineering Industries received decent investor participation, and the focus has now shifted to the IPO allotment, which is expected to be finalised today, July 3.

The SME IPO was open for subscription from June 30 to July 2. With the allotment likely to be finalised today, the company is preparing for its stock market debut on Tuesday, July 7. Teja Engineering Industries shares are scheduled to list on the NSE SME platform.

Following the finalisation of the basis of allotment, equity shares will be credited to the demat accounts of successful applicants. Meanwhile, refunds for investors who did not receive an allotment will be initiated on Monday, July 6.

Investors can check the Teja Engineering Industries IPO allotment status online through the NSE website or Kfin Technologies, the registrar to the issue.

Here are the simple steps to check the Teja Engineering Industries IPO allotment status online.

On NSE

Step 1] For NSE, visit allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2] Select 'Equity & SME IPO bid details' on NSE

Step 3] Choose ‘Teja Engineering Industries’ from the Issue Name dropdown menu

Step 4] Enter your PAN and Application Number

Step 5] Click on Submit.

Check on Kfin Technologies

Step 1] Visit the web portal of the registrar here - https://ipostatus.kfintech.com/

Step 2] Select ‘Teja Engineering Industries’ in the Select Company dropbox

Step 3] Choose among - Application Number/CAF No, Beneficiary ID, or PAN

Step 4] Enter the details as per the option selected

Step 5] Fill the captcha and hit on ‘Search’

Your Teja Engineering Industries IPO allotment status will be displayed on the screen.

Teja Engineering Industries IPO GMP Today

Teja Engineering Industries shares are showing moderate activity in the grey market. According to market trackers, the IPO GMP stands at ₹3 per share today. Based on this premium, the stock is estimated to list at around ₹223 apiece, reflecting a 1.36% gain over the IPO price of 220.

Teja Engineering Industries IPO Subscription Status

The IPO was subscribed 1,37 times by end of Day 3. The retail portion was subscribed 32%, while NII portion was booked 1.81,

The company has received bids for 22.15 lakh shares against 16.12 lakh shares on offer.

Teja Engineering Industries IPO Details

Teja Engineering Industries IPO is a fixed price issue worth ₹37.36 crore. The issue consists entirely of a fresh issue of 0.17 crore shares aggregating to ₹37.36 crore.

The company has fixed the final issue price at ₹220 per share. The lot size for an application is 600 shares. The minimum investment required by an individual retail investor is ₹2,64,000 (1,200 shares), based on the upper price. The minimum lot size for HNI investors is 3 lots (1,800 shares), amounting to ₹3,96,000.

The company proposes to utilise the net proceeds from the issue towards funding capital expenditure requirements for the purchase of equipment and machinery, for which it has earmarked ₹18.01 crore. It will also utilise ₹9.26 crore to meet its working capital requirements. The remaining proceeds will be used for general corporate purposes.

Interactive Financial Services Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. is the registrar. The market makers for the issue are B.N. Rathi Securities Ltd. and SVCM Securities Pvt. Ltd.

Incorporated in 2023, Teja Engineering Industries Limited specialises in providing assistance and support services in the oil and gas, power, and energy sectors.

The company offers project assistance services, including Annual Maintenance Contracts (AMC), Comprehensive Maintenance Contracts (CMC), Operation & Maintenance (O&M), and Erection & Commissioning services. TEIL also specialises in turnkey solutions and gas stations for commercial use.