Parth Electricals & Engineering Raises Rs 13.8 Crore ahead of IPO
Parth Electricals & Engineering, a manufacturer of electrical components, has revealed that it raised Rs.13.8 crore from anchor investors shortly before its Rs.49.72 crore initial public offering (IPO), which is set to commence on August 4.
Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund are among the participants in the anchor round, as stated by the company.
The IPO has been priced between Rs.160 and Rs.170 per share. The IPO will open on August 4 and will conclude on August 6. Following this period, shares will be available on NSE’s SME platform, Emerge.
This public offering represents a fresh issue of 2.9 million shares. Previously, the company secured Rs.12 crore through a pre-IPO placement. Parth Electricals intends to utilize the funds raised from the IPO.
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Currently based in Vadodara, Gujarat, Parth Electricals is allocating Rs.40 crore to set up two new plants—one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha—aiming to better serve rapidly developing regions such as eastern India.
The company’s order book has reached Rs.140 crore, bolstered by a recent Rs.48 crore agreement with Waaree Energies for a 6.5 GW solar project in Navsari.
With increasing demand from utilities such as Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL), and Damodar Valley Corporation, the company is also focused on expanding its workforce from 250 to 550.
Parth Electricals has notable clients including Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power.
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In FY25, the company reported operational revenue of Rs.174.67 crore and a profit after tax of Rs.10.11 crore.
Horizon Management is the lead manager for the IPO, while KFin Technologies is responsible for the registration.