Thejo Engineering Ltd IPO (Thejo Engineering IPO) Detail

Sep 4, 2012 - Sep 6, 2012

Thejo Engineering Ltd 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, fertilizers etc. Company's services include belt conveyor maintenance and operations.

Company's corporate office and manufacturing units are located in Chennai and they have a wide network of branch and site offices across 14 states. Thejo's international presence through partnerships and distribution network extends across Australia, kingdom of Saudi Arabia, the USA, Germany, Chile, Brazil and Ghana.

Objects of the Issue

The object of the issue are to:

1. Setting up a poly-urethane unit at Chennai;
2. Expansion of existing facility at Chennai;
3. Setting up R&D Unit at Chennai;
4. Setting up a lining plant at Chennai;
5. Investment in Australian Subsidiary, Thejo Australia Pty Ltd; and
6. General corporate purposes.

Thejo Engineering IPO Details

IPO Date Sep 4, 2012 to Sep 6, 2012
Listing Date Tuesday, September 18, 2012
Face Value ₹10 per share
Price ₹402 to ₹430 per share
Lot Size 300 Shares
Issue Size[.] shares of ₹10
(aggregating up to ₹19.00 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Company Promoters

The Promoters of the company are:

1. Mr. K.J. Joseph
2. Mr. Thomas John

Thejo Engineering IPO Lot Size

The Thejo Engineering IPO lot size is 300 shares. A retail-individual investor can apply for up to 1 lots (300 shares or ₹129,000).

Application Lots Shares Amount
Retail (Min) 1 300 ₹129,000
Retail (Max) 1 300 ₹129,000

Thejo Engineering IPO Grading

CRISIL has assigned a CRISIL SME fundamental grade of ‘SME 5/5’ (pronounced 'SME five on five') to the proposed IPO of Thejo Engineering Ltd (Thejo). This SME fundamental grade indicates that the fundamentals of the company are excellent compared to other SMEs in India. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Thejo Engineering IPO Report

Thejo Engineering IPO Review

On the performance front, TEL has posted an average EPS of Rs. 52.32 for the last three fiscals. For the year 2011-12 EPS stands at Rs. 76.17. The company issued 1 for 2 bonuses in 1994 and 2001. Its current equity of Rs. 1.24 crore is supported by free reserves of Rs. 28.76 crore. Even if we take fully diluted equity post IPO the issue is being made at a P/E of around 8 and below 2 P/BV. Thus the issue is low risk-high return one.

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Thejo Engineering IPO Subscription Status (Bidding Detail)

The Thejo Engineering IPO is subscribed 1.53 times on Sep 6, 2012 5:00:00 PM. The public issue subscribed 2.61 times in the retail category, 1.00 times in the QIB category, and 0.91 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Thejo Engineering IPO Prospectus

Thejo Engineering IPO Rating

Rating:Rated 4.0 stars
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Thejo Engineering IPO Listing Date

Listing Date Tuesday, September 18, 2012
BSE Script Code
Listing In
ISIN INE121N01019
IPO Price ₹402 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

Thejo Engineering Ltd
Aysha Building,
2nd floor, 41, Whites Road,
Chennai 600 014, Tamil Nadu
Phone: 91 44 4392 1900

Thejo Engineering IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390

Thejo Engineering IPO Review

Thejo Engineering IPO Recommendation Summary

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Thejo Engineering IPO FAQs

Thejo Engineering IPO is a SME IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹19.00 Crores. The issue is priced at ₹402 to ₹430 per share. The minimum order quantity is 300 Shares.

The IPO opens on Sep 4, 2012, and closes on Sep 6, 2012.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Thejo Engineering IPO opens on Sep 4, 2012 and closes on Sep 6, 2012.

Thejo Engineering IPO lot size is 300 Shares and the minimum order quantity is .

You can apply in Thejo Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Thejo Engineering IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Thejo Engineering IPO allotment status.

The Thejo Engineering IPO listing date is on Tuesday, September 18, 2012.
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Thejo Engineering IPO Message Board

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58. seenuipo |   Link |Nov 11, 2012 12:31:31 PM
Top Contributor Top Contributor (200+ Posts)
when is the regular trading activity in thejo Engg,It was not known to general retail investor like me,that, only call auction will be held until further advice.It is blocking of money for long time.Very bad luck.
The analyst(full time) who is recommending this stock for apply is also might not know this information.
But as usual one of our friend analyzed that the issue which are not recommended are doing well and those recommended are either even not listed or quoting below issue price.
57. T.Dilip |   Link |Oct 12, 2012 1:35:22 PM
56. C.A |   Link |Sep 26, 2012 11:43:02 AM
When 95% ipo/fpo,s are giving huge negative return,the question is which type of investor,s apply ipo/fpo , I think only fools. Surway shows that 97% retail investor,s are loser in primary and secondary market look last 5 year,s ipo/fpo performance.
55. REAL INVESTOR |   Link |Sep 26, 2012 11:10:11 AM
Don''t apply 5 rating issues go for 1 or 2 rating like max alert.5 rating means garanted negative return .1 or 2 rating means high chanches of bumper listing.think before u invest bcs of money is your not rating agencies
54. C.A |   Link |Sep 25, 2012 10:15:32 PM
My dear if indian rating agencies gives 5 rateing its mean defalt rating look MOIL,L&T FIN, all are 5 rating but trading in discount in so high market, it will avelabel below 100 it is a junck ipo.
53. AJAY LAL |   Link |Sep 25, 2012 12:27:16 PM
I would like to sell my holding of 300 shares. What is the procedure. Is delivery of shares applied in call auction trading.
52. Udaipur IPO mastana |   Link |Sep 24, 2012 7:02:01 PM
I sold my 300 shares @ 360 today .
put sell order between 110 to 1158. Call auction rate will be decided between 1158 to 1200 and trade settelled accordingly.
Ask him to keep his stock price upto issue price by placing enough buy orders ...
51. AJAY LAL |   Link |Sep 24, 2012 6:30:14 PM
Can Retail investor can sell share of Thejo Engineering in call auction trading.
50. Udaipur IPO mastana |   Link |Sep 24, 2012 4:58:44 PM
Retail investors may contact to Mr.M.D.Ravikanth, compliance officer THEJO _IPO on 09677044714(mob) and 04442221900(o) for any grievences.
49. Udaipur IPO mastana |   Link |Sep 24, 2012 4:55:33 PM
I have applied in Thejo Engineering IPO (INE121N01019) and got
allotment. At the onit’s really difficult to understand the working of this
platform. The system has made the the script (read Thejo here) very
illiquid. How does the retail investor get in/out of the script, when there is no
trading and no visible actual quotes? People are used to see continuous
trading and a system like call-auction serves what purpose is really difficult
to understand. Why normal trading is not done in the script. Look at what
has happened to a company for which rating agency have given 5 o/o 5. no
buyers no sellers that to at the time when it has just got listed, what will
happen of it later on is anybody‘s guess. Most brokers and people
connected to the market are clueless as to what is going on. I read on
NSE-SME site that the company has to give a notice of one month to
change trading from one market type to another why such a long notice
period. To sum it this platform is not for retail investors and it is for whom
that too is not clear except that the promoter of the company raised the
capital for the expansion/of the company. The whole system serves
what purpose is not known. Why normal trading in the scrip is not allowed?
On the top of it the trading lot and application lot at the time of IPOs too has
been kept so large that poor retail will not even think of buying, selling or
applying. The company also didn’t mention in its ASBA physical application
form on page 3 under the head of LISTING that the equity will be listed in
Call Auction segment. They only described about listing on the SME
platform of NSE. The system must have been formed by the best people of
the industry but I feel it has left too much to be desired. Of course my
concern is largely becaI too have been allotted shares in the Thejo
Engineering IPO (INE121N01019) and however with due regards to the
makers of this system I feel horribly stuck and in fact cheated by the
We all poor retail investors participated in your IPO due to strong
recommendation from our stock broker saying about strong fundamentals
of the company. Where are the promoters, registrar, and rating agency
CRISIL who given 5/5 rating to such company, who is unable to keep
the stock price at the lower band of issue price. We all poor retail
investors are cheated by seeing high rating 5/5 of your company. There is
lack of transparency, volume and clarity in call auction system of NSE.
Many of our friends also having shares of Thejo Engineering IPO
(INE121N01019) and want to exit at any cost due to panic conditions. How
will the NSE-SME exchange can boost the confidence of retail investors?
Only opening ceremony by Honorable Finance Minister on 18.09.12 is not
enough in this reference. Retail investors need protection of their hard
earned money invested in such SME companies to certain extend. Such
type of huge losses will definitely kill the confidence of retail investors.
48. live lovelaugh |   Link |Sep 23, 2012 1:24:56 PM
i have been allotted 300+300 shares and my applications were based on 5/5 rating and good fundamentals of the company and i still maintain it that it is a very excellent company.
no investor would have applied had it known that trading will be only for ONE HOUR and that too in a totally new and troublesome method of CALL AUCTION where investors participation /knowledge is very poor and thats why so pathetic volumes.
learned that it is the co who decides where the share must be traded and a notice of one months or so is required to change the trading from call auction to normal sme trading if it exist on nse.MORE INFORMATION AND SOME representation by we investors TO COMPANY ON THIS ASPECT is a right thing if normal trading is possible which i am not sure as this is first issue on nse sme emerge.
48.1. live lovelaugh |   Link |Sep 23, 2012 1:36:21 PM
Stocks having debuted on the leading bourse BSE''s SME platform this year seems to be generating significant interest from investors, as six of them have given positive returns since listing and the seventh one is trading with just a modest loss.

BSE launched its SME platform for small and medium enterprises earlier this year in March and since then seven companies have got listed in this segment.

The SME platform of BSE''s larger rival NSE, named Emerge, also became operational last week with the listing of first company, Thejo Engineering, in this segment.

At the BSE''s SME platform six out of seven stocks are trading above their respective issue prices, while shares of one company, Jointeca Education Solutions, is trading nearly two per cent below its initial public offer (IPO) price.

The stocks trading with significant gains include non-banking finance company BCB Finance (402 per cent), Max Alert Systems (183 per cent) and web infomedia company Jupiter Infomedia (18.25 per cent).

Besides, housing finance firm SRG Housing Finance, cosmetic surgery and skin care services firm Monarch Health Services, and financial services firm Sangam Advisors are trading with gains of 5 per cent, 0.75 per cent and 0.45 per cent, respectively.
47. seenuipo |   Link |Sep 21, 2012 6:37:37 PM
Top Contributor Top Contributor (200+ Posts)

Dilip Dhavda Sab,

You told to not to all new IPOs from last 10 IPO and recommended to apply Thejo Engg but the market show is exactly reverse to your view.
There is no clarity on what is going on from the listing date in this IPO. Somebody say call action going on for one hour and further nothing.
Kindly let me know, when the regular trading will start. I applied after seeing your recommendation on this IPO and not applied the SRG housing after seeing your analysis but SRG is rocking.
You have explained by comparing some other listed stocks with PE ratio. Please tell me why other companies are trading at different PE multiples. You cannot tell this becathe PE multiples are build on future growth of the company rather than present earnings.
In the same way if you know future prospectus of the company explain that and likely PE multiple .That may be useful to this forum becathe market will not run on the simple mathematics.

Thank you if I am clear.
46. mahesh bhat |   Link |Sep 21, 2012 1:09:03 PM
THEJO DOWN 10% today at 360..... highest volume seen in three days
45. IPO SHOKHIN |   Link |Sep 20, 2012 3:59:40 PM
44. AJAY LAL |   Link |Sep 20, 2012 1:17:14 PM
Kindly let us know the trading time in normal market.
43. AJAY LAL |   Link |Sep 20, 2012 1:16:08 PM
Can anybody tell us, when Thejo Engineering shares listed in normal market. My broker unable to give correct information.
42. ahmedabadking |   Link |Sep 20, 2012 11:18:11 AM
why all of you are just looking for listing gain. Hold the company for few quarters and then see its price. At least it has not listed below its ipo price.
41. live lovelaugh |   Link |Sep 19, 2012 2:15:36 PM
listed 0n 18 th in CALL AUCTION segment of stock exchange and the timings are ONLY ONE HOUR DAILY from 11 to volume on listing day was just 2100 shares(7 trading lot )@rs 403 per share.
40. santonu |   Link |Sep 19, 2012 12:51:55 PM
Top Contributor Top Contributor (200+ Posts)
Stock was supposed tro be listed on NSE SME platform on 18th. Whether it got listed and what''s the present price
39. Vishal Garg |   Link |Sep 18, 2012 5:13:51 PM
I have one qustion from NSE how its possible at the time of Listing NSE has permit ofr Call Auctin but it was not mention at the time of when we are offering. Its bad rules and regulation.....