Karamtara Engineering Ltd is set to launch its initial public offering (IPO) with the subscription period beginning on September 9. The company plans to raise ₹875 crore from the public issue and set a price band of ₹241 to ₹254 per equity share, which implies a valuation range of about ₹7,790 crore to ₹8,174 crore.
The IPO consists of a ₹675 crore fresh issue and an offer for sale (OFS) of up to ₹200 crore. Sources also report that anchor investor bidding is scheduled for September 8, subscriptions close on September 11, and the shares are proposed to list on both BSE and NSE on September 17. Ahead of the IPO, Karamtara Engineering secured pre-IPO funding and secondary transactions totalling around ₹546 crore, including investments reported from Amara Partners.
In terms of business context, Karamtara Engineering manufactures engineering steel products used in areas including power transmission and renewable energy structures. Outlets describe its product range spanning transmission towers, solar structures and tracker components, and related steel components. Lead managers are reported as JM Financial, ICICI Securities and IIFL Capital Services.
