Kalpataru and Unimech Aerospace and Manufacturing have received approval from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs). This development was confirmed by the markets regulator on November 21-22, following the companies’ submission of preliminary papers in August.
Kalpataru and Unimech Aerospace IPO Details
Kalpataru Ltd aims to raise approximately INR 1,590 crore through its IPO, which will consist entirely of a fresh issue of shares. The company plans to allocate INR 1,192.5 crore of the proceeds towards debt repayment, reflecting its strategy to strengthen its financial position. Kalpataru is part of a larger group that includes several other entities focused on infrastructure and property solutions.
Unimech Aerospace, based in Bengaluru, seeks to raise INR 500 crore through a combination of a fresh equity issue worth INR 250 crore and an offer for sale (OFS) of an additional INR 250 crore by its promoters. The funds raised will support various initiatives, including the purchase of machinery, working capital needs, investment in its subsidiaries, debt repayment, and general corporate purposes. Unimech specializes in high-precision engineering solutions for sectors such as aerospace, defence, energy, and semiconductors.
Both companies plan to list their shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), marking a significant step in their growth trajectories.
This move reflects a broader trend in the Indian market where companies are increasingly turning to public offerings to raise capital for expansion and operational needs. The successful launch of these IPOs could signal investor confidence in the sectors these companies operate within, particularly aerospace and infrastructure.
As they prepare for their respective IPOs, Kalpataru and Unimech Aerospace are positioning themselves strategically within their markets, aiming to leverage the funds raised for enhanced operational capabilities and market presence.
