Karamtara Engineering IPO Set To Hit Dalal Street On September 9, Company Eyes ₹875 Crore Through Public Issue

New Delhi: Karamtara Engineering Ltd is gearing up for its stock market debut with an Rs 875-crore initial public offering opening for subscription on September 9.

The Karamtara Engineering IPO price band has been fixed at Rs 241-254 per share, valuing the engineering steel products manufacturer between Rs 7,790 crore and Rs 8,174 crore.

Karamtara Engineering IPO Details

The public issue comprises a fresh issue of shares worth Rs 675 crore and an Offer for Sale (OFS) of up to Rs 200 crore.

The IPO will close on September 11, while bidding for anchor investors is scheduled for September 8. Karamtara Engineering shares are proposed to list on the BSE and NSE on September 17.

Strong Pre-IPO Investor Interest

Ahead of the IPO, Karamtara Engineering secured around Rs 546 crore through pre-IPO funding and secondary transactions.

Private equity firm Amara Partners invested Rs 75 crore in July. Earlier, the company raised Rs 307 crore from investors including MNI Ventures and Singularity.

A separate Rs 164-crore secondary transaction attracted several prominent investors, including actors Aamir Khan and Ranbir Kapoor, cricketers Rohit Sharma and Jasprit Bumrah, and filmmaker Karan Johar.

Renewable Energy Business in Focus

Karamtara Engineering manufactures transmission towers, solar structures, tracker components, wind energy structures, structural steel profiles and fasteners.

The company serves domestic and international renewable energy and power transmission markets and is a significant exporter of solar structures and tracker components to North America.

It is also expanding its manufacturing footprint with new facilities in Bhachau, Gujarat, and Saudi Arabia.

JM Financial, ICICI Securities and IIFL Capital Services are managing the IPO.