Karamtara Engineering IPO: ₹875-Cr Issue To Open On Sep 9

Karamtara Engineering Ltd, a manufacturer of engineering steel products for the renewable energy and power transmission sectors, is gearing up to launch its ₹875-crore initial public offering (IPO) on September 9.

The price band has been fixed at ₹241-254 per equity share, valuing the company between ₹7,790 crore and ₹8,174 crore. The IPO comprises a fresh issue of equity shares aggregating to ₹675 crore and an offer for sale (OFS) of shares worth up to ₹200 crore, according to a public announcement on Friday.

The company's maiden public offering will conclude on September 11 and the bidding for anchor investors will take place on September 8.

Karamtara Engineering manufactures a range of engineering steel products, including transmission line towers, solar structures and tracker components, wind energy structures, structural steel profiles and fasteners for domestic and overseas markets.

The proposed issue follows a series of primary and secondary transactions involving institutional and individual investors. The company secured ₹546 crore across multiple pre-IPO stake sales and funding rounds, suggesting investor confidence ahead of its public issue.

Private equity firm Amara Partners invested ₹75 crore in the company in July. Before this, the company raised ₹307 crore in a pre-draft red herring prospectus (DRHP) funding round in January 2025 from investors, including MNI Ventures, backed by Ranjan Pai, Singularity led by Madhusudan Kela, and industry veterans Utpal Sheth and Gaurav Trehan.

Additionally, a ₹164 crore secondary transaction brought in high-profile investors, including actors Aamir Khan and Ranbir Kapoor, cricketers Rohit Sharma and Jasprit Bumrah, and filmmaker Karan Johar. The company is expanding its manufacturing footprint with new facilities in Bhachau, Gujarat, and Saudi Arabia. It is also among the significant exporters of solar structures and tracker components to North America.

The equity shares are proposed to be listed on both the BSE and NSE on September 17.

JM Financial, ICICI Securities and IIFL Capital Services are the book-running lead managers, while MUFG Intime India is the registrar.