Parth Electricals & Engineering, a manufacturer of electrical components, announced that it has raised Rs 13.8 crore from anchor investors ahead of its Rs 49.72 crore IPO on August 4.
Investors who participated in the anchor investor round included Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund, according to the company.
Key Highlights
- Parth Electricals & Engineering pulled ₹13.8 crore from anchor investors before its ₹49.72 crore IPO.
- Key backers included Capri Global, Beacon Stone Capital, IndiaMax Investment Fund boosting investor confidence pre‑IPO.
The company has set the initial public offering price at Rs 160-170 per share. The Rs 49.72 crore IPO will begin on August 4 and conclude on August 6. The stock will be listed on the NSE SME platform Emerge.
The public offering is entirely a new issue of 29.25 lakh shares worth Rs 49.72 crore. The company raised Rs 12 crore through a pre-IPO placement.
The net proceeds from the issue of Rs 20 crore will be used to fund the establishment of a GIS manufacturing facility in Gujarat, Rs 19 crore to establish a new manufacturing facility in Odisha, Rs 15 crore to pay off debt, and the remainder for general corporate purposes.
"From 900 RMUs two years ago, we now produce 3,000 per year. We also manufacture approximately 100 compact substations per year."
Parth Electricals & Engineering's Managing Director, Jignesh Patel, stated that the company currently operates from a facility in Vadodara, Gujarat, and is investing Rs 40 crore to establish two new plants, one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha, to serve high-growth regions such as eastern India.
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Parth Electricals' order book stood at Rs 140 crore, boosted by a recent Rs 48 crore contract with Waaree Energies for a 6.5 GW solar project in Navsari. With rising demand from utilities such as Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL), and Damodar Valley Corporation, the company is doubling down on talent, with plans to increase its workforce from 250 to 550.
The Vadodara-based company's clients include Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power.
In FY25, the company reported Rs 174.67 crore in operating revenue and Rs 10.11 crore in profit after tax. Horizon Management is the sole book-running lead manager, and KFin Technologies is the IPO registrar.
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