The initial public offering (IPO), with a price range of ₹114-120 per equity share, will be available until June 18, and the company’s shares are set to be listed on the NSE’s SME platform Emerge, as stated by the company.
The Pune-based firm plans to raise ₹69.61 crore through the issuance of 58.01 lakh new shares.
The net proceeds from this IPO will be directed towards capital expenditures for establishing a new manufacturing facility, settling debts, and various corporate needs.
“This forthcoming IPO represents a crucial milestone in line with our long-term strategy. The funds raised will facilitate the creation of a new manufacturing facility, allowing us to cater to increasing demand, particularly in the electric vehicle and defence sectors. It will grant us the financial flexibility to foster future growth,” said Manoj Patil, Managing Director of Patil Automation.
Patil Automation specializes in designing and producing fully automated robotic lines and bespoke automation solutions for manufacturers in various industries, including automotive, EVs, defence, and agricultural machinery. Their clientele includes automotive OEMs, Tier I suppliers, and component manufacturers.
For FY25, the company reported revenues of ₹118.05 crore, alongside a profit after tax of ₹11.70 crore.
Seren Capital serves as the sole book running lead manager, while Purva Sharegistry (India) is the registrar for the IPO.
(Edited by : Vivek Dubey)
