Karamtara Engineering files draft papers to elevate Rs 1,750 cr via IPO, in all likelihood valuation at over Rs 10,000 cr
solar mounting systems and tracker additives manufacturer Karamtara Engineering has filed initial papers with SEBI because it plans to elevate Rs 1,750 crore through initial public providing to reduce debt burden.
The IPO will consist of sparkling issuance of fairness shares well worth Rs 1,350 crore, and a proposal-for-sale of Rs 400 crore by means of current shareholders. Promoters - Tanveer Singh, and Rajiv Singh - might be promoting Rs two hundred crore worth shares each inside the provide-for-sale.
Karamtara Engineering is a backward included producer of products for renewable strength and transmission traces sectors, with a total installed ability of five.67 lakh MTPA and four.8 lakh pieces as of september 2024.
The organization, which may be looking for a valuation of Rs 10,411 crore publish problem, offers systems and fasteners inside the sun strength and transmission sectors, and overhead transmission line hardware fittings and accessories. it is also foraying into the wind energy region by putting in place production facility to produce tubular towers for wind generators, that is anticipated to commence operations inside the first zone of FY26.
It claims to have built a sturdy consumer base on the global the front, such as authentic system producers (OEMs) and engineering, procurement and production (EPC) agencies and unbiased power manufacturers (IPPs), with exports enterprise contributing fifty seven.56 percent to its overall revenue in FY24.
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Promoters maintain 94.79 percentage stake in Karamtara Engineering, and the remainder five.21 percentage shares are owned by using public shareholders.
The Mumbai-based company, which competes with indexed entities like Inox wind, KP green Engineering, most advantageous Energies, Waaree Energies, and Suzlon power, has raised Rs 307.17 crore via preferential allotment of 98.08 lakh shares to numerous traders at a rate of Rs 310 according to percentage on january 10, 2025.
Marquee names like Jagdish naresh grasp, Utpal Hemendra Sheth, Singularity boom possibilities Fund, Gaurav Trehan, Quantum nation funding Fund, Ananta capital mission Fund, Jaidev Rajnikant Shroff, Axia pick possibilities Fund, mithun Padam Sacheti and siddhartha Sacheti, and MNI Ventures invested inside the business enterprise through preferential allotment.
Karamtara Engineering intends to lessen its debt burden extensively as it plans to utilise Rs 1,050 crore out of sparkling issue proceeds for repaying debt, and the remainder budget for popular company functions. As of november 2024, its overall tremendous borrowings from banks and lending institutions of Rs 586.4 crore and exquisite acceptances pursuant to letters of credit amounting to Rs 733.6 crore.
The monetary performance remained robust inside the past years with earnings within the monetary 2024 developing 142.3 percent to Rs 102.7 crore and revenue growing 51.5 percent to Rs 2,425.2 crore in comparison to previous monetary. profit in six months duration ended september 2024 rose through fifty one.6 percentage to Rs 59 crore and revenue grew via 34.2 percentage to Rs 1,413.1 crore as compared to yr-ago duration.
JM financial, ICICI Securities, and IIFL capital services are appointed as the e book running lead managers to the difficulty.
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