Tecpro Systems IPO
Tecpro Systems IPO — date, price band, lot size & details 2010
Tecpro Systems listed on 12 Oct 2010 at ₹380, 7% above the ₹355 issue price.
Tecpro Systems provides turnkey material handling, ash handling, balance of plant and EPC solutions for power, steel and cement plants. Its total income was Rs 1,485.15 crore in FY2010.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 23 Sep 2010
- Close 28 Sep 2010
- Allotment 07 Oct 2010
- Refund/credit TBA
- Listing 12 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 28 Sep, 2010 |
|---|---|
| Price Band | ₹340 – ₹355 |
| Face Value | ₹10 |
| Lot Size | 15 Shares |
| Issue Size | ₹267.91 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 17.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 5,325 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 15 shares at the ₹355 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 15 | ₹5,325 |
| Retail (max) | 37 | 555 | ₹1,97,025 |
| S-HNI (min) | 38 | 570 | ₹2,02,350 |
| S-HNI (max) | 187 | 2,805 | ₹9,95,775 |
| B-HNI (min) | 188 | 2,820 | ₹10,01,100 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 486.42 crore in FY2008 to Rs 1,485.15 crore in FY2010.
- 02Profit after tax rose from Rs 41.15 crore in FY2008 to Rs 109.65 crore in FY2010.
- 03Net worth rose from Rs 101.22 crore in FY2008 to Rs 345.00 crore in FY2010.
- 04It makes much of its own equipment, from conveyors to crushers, and has worked since 1990.
Risks · 5
- 01Total borrowing rose from Rs 28.64 crore in FY2008 to Rs 486.79 crore in FY2010.
- 02Rs 200.00 crore of the issue was needed for working capital, which large contracts tie up.
- 03Income tripled in two years from Rs 486.42 crore, which raises execution and cash flow risk.
- 04Orders depend on power and steel plant spending; total assets were Rs 1,613.66 crore in FY2010.
- 05Promoter holding fell from 60.03% before the issue to 52.59% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Tecpro Systems offer document.
| Metric | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Assets | 1,613.66 | 711.24 | 364.93 |
| Total Income | 1,485.15 | 742.93 | 486.42 |
| Profit After Tax | 109.65 | 50.69 | 41.15 |
| NET Worth | 345.00 | 151.32 | 101.22 |
| Reserves and Surplus | 307.99 | 130.93 | 74.52 |
| Total Borrowing | 486.79 | 102.51 | 28.64 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tecpro Systems RHP.
Where the money goes
₹205.48 Cr of the issue is earmarked to named objects.
Tecpro Systems IPO Anchor Investors
8 anchor investors across 5 fund houses committed ₹46.97 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Birla Sun Life Trustee Company Private Limited A/C Birla Sunlife Infrastructure Fund | Aditya Birla Sun Life Mutual Fund | 259,154 | 9.20 | 19.59% |
| Emerging Markets Management Llc A/C The Emmumbrella Funds - Emerging Markets South Asian Stars Fund | - | 259,154 | 9.20 | 19.59% |
| Franklin India Smaller Companies Fund | Franklin Templeton Mutual Fund | 259,154 | 9.20 | 19.59% |
| The Nomura Trust And Banking Co., Ltd As The Trustee Of Nomura India Stock Mother Fund | Nomura | 140,845 | 5.00 | 10.65% |
| Copthall Mauritius Investment Limited | - | 123,003 | 4.37 | 9.30% |
| Sundaram BNP Paribas Mutual Fund A/C Sundaram BNP Paribas Select Thematic Fd Capex Opprt Fd - Growth | Sundaram Mutual Fund | 115,328 | 4.09 | 8.72% |
| Sundaram BNP Paribas Mutual Fund A/C Sundaram BNP Paribas Select Thematic Fds Capex Opp - Dividend | Sundaram Mutual Fund | 110,024 | 3.91 | 8.32% |
| Axis Bank Limited | - | 56,338 | 2.00 | 4.26% |
| Total anchor allocation | 46.97 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It is an established material handling company offering turnkey solutions in material handling, ash handling, balance of plant and EPC contracts.
In material handling it designs, makes, sells and services systems such as conveyors, bucket elevators, stackers, reclaimers, crushers and vibrating screens for power, steel, cement and other industries.
The IPO was Rs 267.91 crore, with Rs 221.78 crore of fresh issue and Rs 46.13 crore of offer for sale by Metmin Investments, at Rs 355, the top of the Rs 340 to Rs 355 band. Most of the fresh money was for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tecpro Systems IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
142 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tecpro Systems?
The current Grey Market Premium is ₹0.
What is the Tecpro Systems IPO price band?
₹340 to ₹355, on a face value of ₹10.
When is the allotment?
The basis of allotment is 7 October 2010, with listing on 12 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
