Upcoming IPO: Omnitech Engineering Gets SEBI Nod, Launches ₹850 Crore IPO With Strong Global Clientele
Omnitech Engineering has received SEBI approval for an Rs 850 crore IPO to fund expansion, repay debt, and boost manufacturing capacity, serving over 220 global clients across diverse industries.
Omnitech Engineering Receives Approval for Rs 850 Crore IPO. |
Mumbai: Omnitech Engineering has received approval from SEBI (Securities and Exchange Board of India) to launch an Initial Public Offering (IPO) worth Rs 850 crore. This IPO includes a fresh equity share issue of up to Rs 520 crore and an offer for sale by promoter Udaykumar Arunkumar Parekh worth Rs 330 crore, as per the company’s draft red herring prospectus (DRHP). Additionally, the company plans a pre-IPO placement of Rs 104 crore, which may reduce the fresh issue amount accordingly.
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Use of Funds and Listing Plans
The funds raised through this IPO will be used for multiple purposes. Around Rs 140 crore will go towards repaying existing debt. Rs 213.7 crore will be invested in setting up two new manufacturing units. The company will also spend Rs 15.7 crore on rooftop solar panels and new equipment for its existing manufacturing facility. The remaining funds will be used for general corporate expenses. Omnitech plans to list its shares on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Company Overview and Clientele
Omnitech Engineering is a leading manufacturer of high-precision engineered components and assemblies. It supplies products to various industries including energy, automation, metal forming, and industrial equipment. The company’s global customers include big names like Halliburton Energy Services, Suzlon, Oshkosh Aerotech, Weatherford, Lufkin Industries, and Bharat Aerospace Metals. It serves over 220 customers across 22 countries such as the US, UAE, Germany, Bulgaria, and Sweden.
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Key Managers and Registrars
Equirus Capital and ICICI Securities are the lead managers handling the IPO, while MUFG Intime India (formerly Link Intime India) acts as the registrar for the issue.
Disclaimer: This information is based on publicly available sources and is for informational purposes only. It does not constitute investment advice. Please consult a financial advisor before making any investment decisions.
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