Latest news with #ParthElectricals&Engineering
Economic Times
3 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
3 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
4 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
4 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.
