Telge Projects IPO GMP
Despite strong financial performance and overseas presence, the grey market premium (GMP) for the IPO currently stands at 0%, suggesting no immediate listing gains are being factored in by investors.
The IPO consists entirely of a fresh issue of 25.94 lakh shares, aggregating to Rs 27.24 crore. Anchor investors have been allotted 7.33 lakh shares worth Rs 7.7 crore ahead of the issue opening. The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of October 3.
Retail investors can bid for a minimum of 2,400 shares, amounting to Rs 2.52 lakh. Smart Horizon Capital Advisors is the book-running lead manager, Bigshare Services is the registrar, and Shreni Shares is the market maker.
Business profile
Telge Projects is engaged in providing engineering design services, catering mainly to EPC firms, contractors, and fabricators.Its offerings include building information modelling (BIM), structural engineering, material take-offs, 2D drafting, and architectural services. The company has executed projects across 11 countries, including the US, UK, Canada, Australia, Singapore, and Malaysia, and has a subsidiary in the United States.Financially, the company has posted strong growth. Revenue more than doubled to Rs 25.65 crore in FY25 from Rs 12.5 crore in FY24, while profit after tax rose 103% to Rs 5.38 crore from Rs 2.66 crore in the same period.
The company plans to use the IPO proceeds to fund capital expenditure for the purchase of an office premises in Pune, acquire computers and software, expand manpower in India and its US subsidiary, and for general corporate purposes.
as a Reliable and Trusted News Source(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)