New Delhi, October 3(HS): Engineering design services firm Telge Projects began trading in the stock market today with a modest premium, giving a positive start to its IPO journey. The company had issued shares at ₹105 apiece in the public offering.

On debut at the BSE SME platform, the stock listed at ₹108.10 — about 3% higher than the issue price. Following active buying interest, the price spiked to ₹112 before easing slightly due to profit booking. By 11:30 a.m., the stock was trading at ₹110.85.

IPO Subscription Details

The company had floated a public offering of ₹27.24 crore, which remained open for subscription from September 25 to 29. The issue received an average response, being subscribed 2.99 times overall. Within this, the Qualified Institutional Buyers (QIB) segment was subscribed 5.41 times.

Non-Institutional Investors (NII) subscribed 2.75 times, while the Retail portion saw 1.72 times subscription.The IPO included 25,94,400 fresh equity shares with a face value of ₹10 each. Funds raised are planned to be utilized for meeting working capital requirements and for general corporate purposes.

Financial Performance

As per the company’s prospectus, financial indicators have shown significant growth in recent years. Net profit stood at ₹90 lakh in FY 2022-23, which rose to ₹2.66 crore in FY 2023-24, and further jumped to ₹5.38 crore by FY 2024-25. Revenue expanded strongly, recording over 105% compound annual growth, reaching ₹25.65 crore in FY 2024-25.However, borrowings also increased during this period. Total debt rose from ₹2.50 crore at the close of FY 2022-23, to ₹2.76 crore in FY 2023-24, and further surged to ₹9.38 crore in FY 2024-25.

Reserves and surplus improved significantly over the same duration. From ₹1.09 crore in FY 2022-23, they increased to ₹3.66 crore in FY 2023-24 and then rose sharply to ₹10.31 crore by the end of FY 2024-25.

Hindusthan Samachar / Jun Sarkar