Outlook Business Desk
Karamtara Engineering, a Mumbai-based power and renewable energy equipment maker is set to launch a Rs 1,750 crore IPO, attracting investments from Bollywood and cricket celebrities.
"Actor Aamir Khan, Ranbir Kapoor and director Karan Johar have collectively invested nearly Rs 30 crore in Karamtara Engineering, as reported by Financial Express."
Indian cricketer Captian Rohit Sharma and all rounder bowler Jasprit Bumrah also invested in the company, showcasing the IPO’s wide appeal.
On April 25, these celebrities purchased 9.68 lakh shares at Rs 310 each, valuing the company at approximately Rs 10,411 crore post-issue.
The Mumbai-based company plans to raise Rs 1,750 crore via IPO — Rs 1,350 crore through fresh issue and Rs 400 crore via OFS, with promoters Tanveer and Rajiv Singh each selling shares worth Rs 200 crore.
Karamtara plans to utilise Rs 1,050 crore from the IPO to reduce its debt, which stood at Rs 586.4 crore as of November 2024.
The company's emphasis on clean energy and transmission line equipment aligns with global sustainability trends, attracting eco-conscious investors.
Prior to the IPO, the company raised Rs 160 crore in pre-IPO placement from investors like Ashoka Capital and Motilal Oswal.
The involvement of high-profile investors may boost investor confidence and public interest in Karamtara’s IPO, potentially influencing its success.