Rohit Sharma, Jasprit Bumrah, Ranbir Kapoor, Aamir Khan, Karan Johar and Institutions Invest Rs 105.7 Crore in Pre-IPO Round - Know IPO Name Here!
Celebrities And Institutions Invest Rs 105.7 Crore Ahead Of IPO To Help the Company Reduce Debt And Expand In the Renewable Energy And Transmission Manufacturing Sectors
In a recent pre-IPO investment round, well-known personalities from the entertainment and sports world have taken stakes in a growing manufacturing firm in the renewable energy and power infrastructure space. The list of investors includes actors Ranbir Kapoor and Aamir Khan, director Karan Johar, and cricketers Rohit Sharma and Jasprit Bumrah. Collectively, they acquired around 9.69 lakh shares for Rs 30.03 crore on April 25 through a secondary sale. Additionally, some institutions also invested in the company totalling the investment amount to Rs 105.7 crore.
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The promoters offloaded a total of 34.09 lakh shares at Rs 310 per share, valuing the business at approximately Rs 10,411 crore on a post-issue basis. Additional institutional backing came on April 28, when India Opportunities Growth Fund – Pinewood Strategy invested Rs 25.51 crore for 8.23 lakh shares.
Several other investors joined via preferential allotments. These include Singularity Growth Opportunities Fund, Quantum State Investment Fund, Ananta Capital Venture Fund, Jagdish Naresh Master, Gaurav Trehan, MNI Ventures, and others.
The company name is Karamtara Engineering
The company had earlier filed its draft prospectus with SEBI in January, aiming to raise Rs 1,750 crore through a combination of fresh equity and offer-for-sale. Out of the Rs 1,350 crore fresh issue, Rs 1,050 crore is earmarked for debt repayment. As of November 2024, its total financial liabilities included Rs 586.4 crore in loans and Rs 733.6 crore in dues linked to letters of credit.
Operating in both the solar energy and power transmission sectors, the business has a backward-integrated model with manufacturing capabilities of 5.67 lakh metric tonnes per annum and production output of 4.8 lakh pieces as of September 2024. Its offerings include mounting structures, fasteners, and hardware fittings used in renewable energy projects and overhead transmission systems.
Disclaimer: The article is for informational purposes only and not investment advice.