Chennai-based Thejo Engineering Ltd today got listed at Rs 412,with a premium of 2.48 per cent over its issue price of Rs 402 on Emerge the SME platform of the NSE.
Thejo Engineering is the first company to to be listed on Emerge – the SME platform of the NSE.
The company proposes to invest the net proceeds of the issue to set up a poly- urethane unit with investment of Rs 68.28 lakh.
It was looking to raise up to Rs 21 crore from the IPO.
Besides,expansion of the existing facility will require investment of Rs 6.87 crore; setting up of R&D unit – Rs 2.83 crore and a lining plant – Rs 1.69 crore,all at Chennai.
The company also proposes to investment Rs 6.42 crore in Thejo Australia Ltd,its Australian subsidiary.
Thejo is an engineering solutions provider for bulk material handling,mineral processing and corrosion protection to the core sector industries like mining,power,steel,cement,ports and fertilisers.