Latest news with #KaramtaraEngineering
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Business Standard
2 days ago
- Business
- Business Standard
Kent RO, 3 others get Sebi nod for IPOs: Here's all you need to know
Upcoming IPOs: Four companies, including Kent RO Systems, Karamtara Engineering, Vidya Wires and Mangal Electrical Wires, have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). These companies are collectively expected to raise around ₹2,500 crore through their public issues. The companies filed their draft papers with the market regulator in January 2025. Here are the key details you should know: Kent RO Systems The water purifier company has received Sebi's nod for a book-built IPO comprising an offer for sale (OFS) of 10.1 million shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. Kfin Technologies is the registrar of the issue. JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers of the issue. Karamtara Engineering Services The plans to raise ₹1,750 crore through a combination of fresh issues worth ₹1,350 crore and an offer for sale (OFS) worth ₹400 crore. MUFG Intime India, formerly Link Intime, is the registrar of the issue. JM Financial, ICICI Securities, and IIFL Capital Services are the book-running lead managers. According to the draft red herring prospectus (DRHP), the company plans to use ₹1,050 crore from the net fresh issue proceeds for prepayment, repayment and/or payment to its lenders towards borrowings and Acceptances, in part or full. Karamtara Engineering is a backward-integrated manufacturer of products for renewable energy and transmission line sectors. The company has a diverse product portfolio including structures and fasteners in the solar energy and transmission sectors, and overhead transmission line (OHTL) hardware fittings and accessories. Mangal Electrical The Rajasthan-based transformer and electrical equipment manufacturer aims to raise ₹450 crore through an IPO. The IPO, with a face value of ₹10, is entirely a fresh issue of shares up to ₹450 crore with no offer-for-sale component. According to the DRHP, from the net issue proceeds, ₹96.03 crore will be used for repayment/ prepayment, in full or in part, of certain outstanding borrowings, ₹120 crore for expanding the facility at Unit IV situated Reengus, Sikar District, Rajasthan and civil works at its existing head office, Jaipur, Rajasthan to optimise space usage and increase storage capacity, and ₹122 crore for funding working capital requirements. The remaining funds will be used for general corporate purposes. Mangal Electrical Industries is in the business of processer of transformer components, including transformer lamination, CRGO slit coils, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers. The company has five production facilities in Rajasthan with an aggregate production capacity of 16,200 MT for CRGO, 7,50,000 KVA for transformers, 75,000 units for ICB and 2,400 MT for Amorphous units per annum. Vidya Wires The copper and aluminium wires company plans to raise ₹320 crore through a fresh issue and an OFS for 10 million shares. MUFG Intime India, Link Intime, is the registrar for the issue. Pantomath Capital Advisors and IDBI Capital Market Services are the book-running lead managers of the Vidya Wires IPO. Incorporated in 1981, Vidya Wires manufactures winding and conductivity products for various industries, including precision-engineered wires, copper strips, conductors, busbars, specialized winding wires, PV ribbons, and aluminium paper-covered strips. The company has expanded its manufacturing capacity to 19,680 MT per annum and plans to increase it to 37,680 MT per annum with an additional 18,000 MTPA units in Narsanda, Gujarat.
Time of India
2 days ago
- Business
- Time of India
Kent RO Systems among four firms to win Sebi nod for IPOs
India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy sectors. The four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy infrastructure. Kent RO Systems Kent RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. 'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring prospectus. Incorporated in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO systems. The brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the registrar. Karamtara Engineering Karamtara Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for sale. The company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 countries. The issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the registrar. Vidya Wires Copper and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore shares. Founded in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, Gujarat. The IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the registrar. Mangal Electrical Mangal Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh issue. The company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the registrar. These approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes. Also read | Oswal Pumps sets price band for Rs 1,387 crore IPO ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Kent RO Systems among four firms to win Sebi nod for IPOs
Tired of too many ads? Remove Ads Kent RO Systems Tired of too many ads? Remove Ads Karamtara Engineering Vidya Wires Tired of too many ads? Remove Ads Mangal Electrical India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer.'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
2 days ago
- Business
- Mint
Upcoming IPO: Karamtara Engineering gets SEBI nod to raise funds through IPO
Upcoming IPO: Karamtara Engineering Limited, which submitted its Draft Red Herring Prospectus (DRHP) in January 2025, has today received final observations from SEBI to proceed with its IPO fundraising. The company presented its IPO paperwork to SEBI on January 23, 2025. As a backward integrated producer of transmission line and renewable energy products, Karamtara Engineering stands out. According to the F&S Report, it holds the position as the top manufacturer of solar mounting structures and tracker components in India based on installed capacity for Fiscal 2024 and for the six months ending September 30, 2024. Given their extensive product range, Karamtara Engineering has the potential to serve as a single-source provider for solar structures, encompassing both trackers and fixed-tilt systems. The company's offerings include structures for the transmission sector (such as lattice towers for transmission lines) alongside the solar energy sector (like solar module mounting structures, solar tracker piles and piers, and solar torque tubes). In addition, it manufactures OHTL hardware fittings and accessories (including insulator string fittings, jumper tubes, suspension clamps, and vibration dampers) as well as fasteners (such as bolts, nuts, studs, and washers). The total size of the offer consists of a new equity shares issue valued at ₹ 1,350 crore, in addition to an offer for sale by Selling Shareholders amounting to ₹ 400 crore. The Company intends to utilize the net proceeds from the new issue primarily for funding initiatives. Specifically, ₹ 1,050 crore will be set aside for the prepayment, repayment, or settlement of obligations owed to lenders related to borrowings. The remaining funds will be allocated for general corporate purposes. Prominent investors such as Jagdish Naresh Master, Utpal Hemendra Sheth, Singularity Growth Opportunities Fund, Gaurav Trehan, Quantum State Investment Fund, Ananta Capital Venture Fund, Jaidev Rajnikant Shroff, Axia Select Opportunities Fund, Mithun Padam Sacheti, and Siddhartha Sacheti, along with MNI Ventures, have invested in the firm through preferential allotment, as stated in the DRHP. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
30-04-2025
- Business
- Business Standard
Bollywood stars, cricketers invest in Karamtara Engineering's pre-IPO round
Bollywood actors Ranbir Kapoor and Aamir Khan, as well as cricket players Rohit Sharma and Jasprit Bumrah, have invested in power transmission firm Karamtara Engineering's pre-IPO round. Karamtara Engineering is a backwards-integrated manufacturer of products for the renewable energy and transmission lines sectors. It offers a diverse product portfolio, which enables it to serve as a one-stop shop for solar structures (fixed-tilt and trackers). The company offers lattice structures for transmission lines, fasteners for solar, wind, transmission and industrial sectors, and overhead transmission line hardware fittings and accessories. As part of the transaction, the company's promoters, Tanveer Singh and Rajiv Singh, have transferred an aggregate of 34,09,724 equity shares at Rs 310 apiece for an aggregating amount of Rs 106 crore, by way of a secondary sale, according to a public announcement. Of these shares, Kapoor has bought 1,61,300 shares worth Rs 5 crore, Khan picked up 1,29,050 shares to the tune of Rs 4 crore, and Karan Johar purchased 4.85 lakh shares for Rs 1.5 crore. Additionally, Sharma and Bumrah bought 64,520 shares for Rs 2 crore each, the notice showed. Karamtara Engineering filed preliminary papers with markets regulator Sebi in January seeking approval to raise Rs 1,750 crore through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of shares valued at Rs 1,350 crore and an offer for sale (OFS) of shares worth Rs 400 crore by promoters. Proceeds of the fresh issue to the tune of Rs 1,050 crore will be used towards payment of debt and a portion will be utilised for general corporate purposes. On the financial front, the company posted a Profit After Tax (PAT) of Rs 102.65 crore in FY2024, more than double from Rs 42.36 crore in the preceding fiscal. Revenues rose to Rs 2,425.15 crore from Rs 1,600.31 crore in FY2023. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
