Latest news with #JigneshPatel
Time of India
5 days ago
- Business
- Time of India
Parth Electricals IPO opens to raise ₹62 crore for GIS expansion in Gujarat, Odisha
New Delhi: Vadodara-based Parth Electricals & Engineering Ltd has launched its ₹62 crore initial public offering (IPO) on NSE Emerge to fund expansion of its Gas Insulated Switchgear (GIS) manufacturing facilities in Gujarat and Odisha. Of the total issue, the company had already raised ₹13.8 crore in an anchor round from Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund, while Waaree Sustainable Finance Pvt Ltd had invested ahead of the IPO. The IPO, which opened on August 4, is priced in the band of ₹160–₹170 per share, with the public issue component aimed at raising ₹49 crore. Founded in 2005 by former Siemens engineer Jignesh Patel, the company manufactures and installs key power distribution infrastructure including Ring Main Units (RMUs), Compact Substations, and Gas Insulated Switchgear, critical to India's grid upgrades, renewable energy evacuation, and smart city projects. Parth Electricals operates under a licensing arrangement with Schneider Electric SAS, France, to manufacture and sell type-tested RMUs and compact substations. It also has a technology transfer agreement with Hezong, China, for the production of GIS systems ranging from 33kV to 220kV. The company clocked ₹174.7 crore in revenue in FY25, up from ₹86.9 crore the previous year. Profit after tax was ₹10.1 crore, while EBITDA stood at ₹17.5 crore. The company reported a Return on Capital Employed (RoCE) of 46%. Parth has an existing capacity to produce 3,000 RMUs and 100 compact substations annually. The new GIS manufacturing unit in Vadodara will serve 33kV–132kV demand, while the Odisha unit will cater to eastern India's infrastructure needs. In March 2024, Parth supplied 225 RMUs to UGVCL under the Revamped Distribution Sector Scheme (RDSS). Its client list includes Tata Steel, Adani, IOCL, Reliance, and Essar, with project executions including emergency GIS deployment at Jamnagar refinery and 220kV GIS for Tata Steel at Kalinganagar. The company has also entered international markets with a $4.8 million LT panel order for Mesabi Metallics in the United States and is in the process of obtaining UL certification to expand in North America. On the sustainability front, Parth operates a rooftop solar plant at its Vadodara unit, has partnered with Tata Power Renewable Energy Ltd for clean energy at its Odisha unit, and refurbishes used RMUs to reduce industrial waste. 'Whether it's smart cities, renewable parks, or public transport electrification, our focus is to deliver safe, scalable, and localised power solutions that India needs for the next 25 years,' said Jignesh Patel, Chairman & Managing Director, Parth Electricals.
Economic Times
5 days ago
- Business
- Economic Times
Parth Electricals & Engineering raises Rs 13.8 cr from anchor investors ahead of IPO
Parth Electricals & Engineering, an electrical components manufacturer, on Sunday said it has raised Rs 13.8 crore from anchor investors ahead of the opening of its Rs 49.72 crore initial public offering on August 4. ADVERTISEMENT Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund are among the investors which participated in the anchor investor round, the company said in a statement. The company has fixed the IPO price at Rs 160-170 per share. The Rs 49.72 crore initial public offering (IPO) will hit the capital market on August 4 and concludes on August 6. The shares will be listed on the NSE SME's platform Emerge. The public issue is entirely a fresh issue of 29.25 lakh shares worth Rs 49.72 crore. The company had mobilised Rs 12 crore through a pre-IPO placement. The net proceeds from the issue worth Rs 20 crore will be used towards funding of establishing GIS manufacturing facility in Gujarat, Rs 19 crore for setting up a new manufacturing facility in Odisha, Rs 15 crore for payment of debt and the rest will be used for the general corporate purposes. "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year. ADVERTISEMENT "The company currently operates out of a facility in Vadodara, Gujarat, and is investing Rs 40 crore to set up two new plants -- one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha -- to cater to high-growth regions such as eastern India," Parth Electricals & Engineering's Managing Director Jignesh Patel, said. Parth Electricals' order book stood at Rs 140 crore, buoyed by a recent Rs 48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With growing demand from utilities like Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL) , and Damodar Valley Corporation, the company is also doubling down on talent, aiming to expand its workforce from 250 to 550. ADVERTISEMENT The Vadodara-based company's clientele includes Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. The company reported a revenue from operations of Rs 174.67 crore and profit after tax of Rs 10.11 crore in FY25. Horizon Management is the sole book running lead manager while KFin Technologies is the registrar for the IPO. PTI (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Parth Electricals & Engineering raises Rs 13.8 cr from anchor investors ahead of IPO
Parth Electricals & Engineering, an electrical components manufacturer, on Sunday said it has raised Rs 13.8 crore from anchor investors ahead of the opening of its Rs 49.72 crore initial public offering on August 4. Capri Global Capital , Beacon Stone Capital, and IndiaMax Investment Fund are among the investors which participated in the anchor investor round, the company said in a statement. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Artificial Intelligence Healthcare Operations Management MCA Data Science Project Management Data Science Public Policy Design Thinking CXO Finance Technology Management Product Management Degree Digital Marketing Cybersecurity MBA PGDM Data Analytics Others others Leadership Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tha Taphao: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo The company has fixed the IPO price at Rs 160-170 per share. The Rs 49.72 crore initial public offering (IPO) will hit the capital market on August 4 and concludes on August 6. The shares will be listed on the NSE SME's platform Emerge. The public issue is entirely a fresh issue of 29.25 lakh shares worth Rs 49.72 crore. The company had mobilised Rs 12 crore through a pre-IPO placement. The net proceeds from the issue worth Rs 20 crore will be used towards funding of establishing GIS manufacturing facility in Gujarat, Rs 19 crore for setting up a new manufacturing facility in Odisha, Rs 15 crore for payment of debt and the rest will be used for the general corporate purposes. Live Events "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year. "The company currently operates out of a facility in Vadodara, Gujarat, and is investing Rs 40 crore to set up two new plants -- one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha -- to cater to high-growth regions such as eastern India," Parth Electricals & Engineering's Managing Director Jignesh Patel, said. Parth Electricals' order book stood at Rs 140 crore, buoyed by a recent Rs 48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With growing demand from utilities like Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL) , and Damodar Valley Corporation, the company is also doubling down on talent, aiming to expand its workforce from 250 to 550. The Vadodara-based company's clientele includes Aditya Birla, UltraTech Cement, L&T, Reliance Industries , Adani, Tata Power , Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. The company reported a revenue from operations of Rs 174.67 crore and profit after tax of Rs 10.11 crore in FY25. Horizon Management is the sole book running lead manager while KFin Technologies is the registrar for the IPO. PTI
Hans India
6 days ago
- Business
- Hans India
Parth Electricals & Engineering raises Rs 13.8 cr from anchor investors ahead of IPO
Parth Electricals & Engineering, an electrical components manufacturer, on Sunday said it has raised Rs 13.8 crore from anchor investors ahead of the opening of its Rs 49.72 crore initial public offering on August 4. Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund are among the investors which participated in the anchor investor round, the company said in a statement. The company has fixed the IPO price at Rs 160-170 per share. The Rs 49.72 crore initial public offering (IPO) will hit the capital market on August 4 and concludes on August 6. The shares will be listed on the NSE SME's platform Emerge. The public issue is entirely a fresh issue of 29.25 lakh shares worth Rs 49.72 crore. The company had mobilised Rs 12 crore through a pre-IPO placement. The net proceeds from the issue worth Rs 20 crore will be used towards funding of establishing GIS manufacturing facility in Gujarat, Rs 19 crore for setting up a new manufacturing facility in Odisha, Rs 15 crore for payment of debt and the rest will be used for the general corporate purposes. "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year. "The company currently operates out of a facility in Vadodara, Gujarat, and is investing Rs 40 crore to set up two new plants -- one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha -- to cater to high-growth regions such as eastern India," Parth Electricals & Engineering's Managing Director Jignesh Patel, said. Parth Electricals' order book stood at Rs 140 crore, buoyed by a recent Rs 48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With growing demand from utilities like Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL) , and Damodar Valley Corporation, the company is also doubling down on talent, aiming to expand its workforce from 250 to 550. The Vadodara-based company's clientele includes Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. The company reported a revenue from operations of Rs 174.67 crore and profit after tax of Rs 10.11 crore in FY25. Horizon Management is the sole book running lead manager while KFin Technologies is the registrar for the IPO.
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Business Standard
6 days ago
- Business
- Business Standard
Ahead of IPO, Parth Electricals raises ₹13.8 cr from anchor investors
Electrical component manufacturer Parth Electricals & Engineering has announced that it secured ₹13.8 crore from anchor investors just ahead of its ₹49.72 crore initial public offering (IPO), which opens on August 4. Among the investors who participated in the anchor round are Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund, the company said in a statement. IPO details: Price, dates and listing The company has set the IPO price between ₹160 and ₹170 per share. The ₹49.72 crore IPO will open on August 4 and close on August 6. After that, the shares will be listed on NSE's SME platform, Emerge. This public offering is a fresh issue of 2.9 million shares. Earlier, the company had raised ₹12 crore through a pre-IPO placement. Parth Electricals plans to use the funds raised through the IPO as follows: ₹20 crore to build a GIS (Gas Insulated Switchgear) manufacturing facility in Gujarat. ₹19 crore to set up a new plant in Odisha. ₹15 crore will go towards repaying debt. The remaining amount will be used for general corporate needs. Expansion and production growth Managing Director Jignesh Patel highlighted the company's growth, saying: "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year." Currently, Parth Electricals operates from a unit in Vadodara, Gujarat. It is investing ₹40 crore to establish two new plants — one in Vadodara for gas-insulated switchgear, and the other in Khurda, Odisha — to better serve fast-growing areas like eastern India. The company has an order book worth ₹140 crore. This includes a recent ₹48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With rising demand from key clients such as Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL), and Damodar Valley Corporation, the company is also planning to increase its staff from 250 to 550 employees. High-profile clients and financials Parth Electricals counts major companies among its customers. These include Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. In the financial year 2024–25, the company recorded revenue from operations of ₹174.67 crore and posted a net profit of ₹10.11 crore. Horizon Management is the sole book-running lead manager for the IPO, while KFin Technologies is acting as the registrar.
