Karamtara Engineering Files Draft Papers for ₹1,750 Crore IPO

resr 5paisa Research Team

Last Updated: 24th January 2025 - 05:44 pm

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Karamtara Engineering Ltd has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO).

As a backward-integrated manufacturer, the company specializes in transmission line and renewable energy products. According to the F&S Report, based on installed capacity in Fiscal 2024 and the six months ending September 30, 2024, Karamtara Engineering is India's leading manufacturer of solar mounting structures and tracker components.

With a diverse product portfolio, the company serves as a comprehensive provider of solar structures, including both trackers and fixed-tilt systems. Its offerings encompass transmission industry structures, such as lattice towers for transmission lines, as well as solar energy components, including solar module mounting structures, solar tracker piles and piers, and solar torque tubes. Additionally, it manufactures OHTL hardware fittings and accessories, such as insulator string fittings, jumper tubes, suspension clamps, and vibration dampers, alongside a range of fasteners, including bolts, nuts, studs, and washers.

IPO Details

The IPO comprises a fresh issue of equity shares valued at ₹1,350 crore, along with an offer for sale by existing shareholders totaling ₹400 crore. The net proceeds from the fresh issue will primarily be utilized for financial commitments, with ₹1,050 crore allocated towards prepayment, repayment, or servicing of borrowings. The remaining funds will be used for general corporate purposes.

JM Financial Limited, ICICI Securities Limited, and IIFL Capital Services Limited (formerly IIFL Securities Limited) are the Book Running Lead Managers for the issue.

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