Omnitech Engineering gets SEBI nod for ₹850 crore IPO
Omnitech Engineering just got the go-ahead from SEBI to launch its ₹850 crore IPO.
The offer includes fresh shares worth ₹520 crore and a ₹330 crore sale by promoter Udaykumar Arunkumar Parekh.
It's all part of their plan to raise funds and grow the business.
Plans to pay off ₹140 crore debt
Omnitech plans to use the IPO cash mainly to pay off ₹140 crore in debt and build two new manufacturing units, which will cost about ₹213.7 crore.
They're also setting aside funds for rooftop solar panels and new machinery—so it's not just about expansion, but also making their operations greener and more efficient.
Equirus Capital and ICICI Securities are managing the offer
Shares will be listed on both NSE and BSE, with Equirus Capital and ICICI Securities managing the book-running.
MUFG Intime India is on board as registrar, keeping things smooth behind the scenes.