Karamtara Engineering Limited obtained the final approval from SEBI to move on with its first public offering (IPO) financing after submitting its Draft Red Herring Prospectus (DRHP) in January 2025.

Earlier this year, the company submitted its IPO documentation to SEBI.

Karamtara Engineering is unique as a backward integrated manufacturer of renewable energy and transmission line goods. 

Based on installed capacity for Fiscal 2024 and the six months ending September 30, 2024, it is the leading producer of solar mounting structures and tracker components in India, according to the F&S Report.

Karamtara Engineering is a one-stop shop for solar structures, including trackers and fixed-tilt systems, thanks to their wide choice of products. 

Structures for the transmission industry (like transmission line lattice towers) and the solar energy industry (like solar module mounting structures, solar tracker piles and piers, and solar torque tubes) are among the products offered by the company.

It also produces fasteners (bolts, nuts, studs, and washers) and OHTL hardware fittings and accessories (insulator string fittings, jumper tubes, suspension clamps, and vibration dampers).

A new equity share issue worth Rs.1,350 crore and an offer for sale by selling shareholders worth Rs.400 crore make up the offer's entire size. 

 

The company's primary goal is to fund initiatives with the net revenues from the new issue.

In particular, Rs.1,050 crore will be allocated for the settlement, repayment, or prepayment of debts incurred from borrowings to lenders. The remainder of the money will be used for basic business needs.

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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.