In a big pre-IPO move that’s making headlines in both financial and celebrity circles, power transmission and renewable infrastructure company Karamtara Engineering has raised INR 105.7 crore through a secondary share sale at Rs 310 per share, before its planned Rs 1,750 crore IPO. The round saw participation from a diverse set of high profile investors including Aamir Khan, Ranbir Kapoor, Karan Johar, and Rohit Sharma and Jasprit Bumrah.
This fresh capital will be used to reduce debt and scale up in the renewable energy infrastructure space. The transaction underscores the growing interest from marquee investors including those from outside traditional capital markets in India’s energy transformation narrative.
Investments Details
According to public disclosures dated April 25–29, 2025:
- Ranbir Kapoor acquired 1,61,300 shares for INR 5 crore
- Aamir Khan picked up 1,29,050 shares for INR 4 crore
- Karan Johar secured 4.85 lakh shares (though worth only INR 1.5 crore, raising questions on potential reporting inconsistencies)
- Rohit Sharma and Jasprit Bumrah each bought 64,520 shares, amounting to INR 2 crore apiece
- Other names like Bimal Parekh, Kapoor’s long-time advisor, also participated
The total celebrity and sports star investment is pegged at INR 30.03 crore, with the remainder subscribed by institutional entities like India Opportunities Growth Fund – Pinewood Strategy, which invested INR 25.51 crore for 8.23 lakh shares.
These shares were acquired via a secondary sale from promoters Tanveer Singh and Rajiv Singh, who offloaded a combined 34.09 lakh shares, totaling INR 105.7 crore.
Karamtara Engineering IPO Details
Karamtara Engineering filed its Draft Red Herring Prospectus (DRHP) with SEBI in January 2025, detailing a INR 1,750 crore IPO, comprising:
- A INR 1,350 crore fresh issue
- A INR 400 crore offer-for-sale (OFS), equally split between the two key promoters
Proceeds from the fresh issue will be largely deployed to pare down debt. As per financials available till November 2024, Karamtara Engineering carried total liabilities of approximately INR 1,320 crore, comprising:
- INR 586.4 crore in bank borrowings
- INR 733.6 crore in outstanding acceptances under letters of credit
Karamtara Engineering plans to utilize INR 1,050 crore of the fresh issue proceeds toward debt repayment, with the remainder allocated for general corporate purposes.
Business Overview
Mumbai-based Karamtara Engineering has carved out a dominant position in India’s renewable infrastructure supply chain. It is the largest domestic manufacturer of solar mounting structures and tracker components, with a current installed capacity of:
- 5.67 lakh metric tonnes per annum (MTPA) for manufacturing
- 4.8 lakh pieces for fasteners and hardware
Its products span:
- Solar structures: Fixed-tilt and tracking systems
- Transmission hardware: Lattice structures, fittings, fasteners
- Wind sector: A new facility for tubular wind turbine towers is in development and expected to go live in FY 2026
The firm’s backward-integrated model, complete with in-house rolling mills and galvanizing units, helps control quality and costs. Its global footprint is notable—exports accounted for over 57% of FY24 revenues, with customers across more than 50 countries.
Financial Performance
Karamtara’s financials reflect a business gaining momentum:
- FY24 Revenue: INR 2,425.15 crore (up 51% from INR 1,600.31 crore in FY23)
- FY24 PAT: INR 102.65 crore (up from INR 42.36 crore in FY23)
- EBITDA margins: Improving due to cost efficiencies
- H1 FY25: Revenue of INR 1,413.10 crore, PAT of INR 5.90 crore
This performance, paired with capacity expansion and CBAM (Carbon Border Adjustment Mechanism) compliance for exports to Europe, puts the company on strong footing.
Investor Sentiment & Outlook
The presence of celebrity investors in the pre-IPO round has undoubtedly generated additional buzz, but it’s the fundamentals that are driving institutional confidence. Earlier this year, Karamtara Engineering raised INR 307.17 crore via a preferential allotment of 98.08 lakh shares, attracting names like:
- Utpal Sheth (Rare Enterprises)
- Gaurav Trehan (Advent International)
- Singularity Growth Opportunities Fund
- Jaidev Shroff (UPL Ltd)
- Quantum State Investment Fund
- Mithun and Siddhartha Sacheti (CaratLane)
With JM Financial, ICICI Securities, and IIFL Capital Services managing the IPO and MUFG Intime India as registrar, the offering is being positioned as one of the most anticipated IPOs in the clean energy space this year.
Conclusion
Karamtara Engineering’s INR 105 crore pre-IPO investment round—especially with star-studded participation—signals the growing convergence of sustainability, infrastructure, and investor appeal. As India marches toward its 2030 renewable energy targets, companies like Karamtara Engineering are poised not just to benefit from policy tailwinds, but also to shape the future of green infrastructure.