Pioneer Fil-Med plans 500cr IPO, promoters propose 125cr sale each
Business
Pioneer Fil-Med is planning to raise ₹500 crore through an IPO, aiming to boost its next phase of growth.
The offer splits evenly between new shares and an offer for sale, with promoter Pioneer Facor IT Infradevelopers and promoter-group entity Aztech India each proposing to offload up to ₹125 crore worth of shares.
Funds for Bhiwadi gearbox, wind plants
The funds will help set up new gearbox and wind generator component plants in Bhiwadi, Rajasthan, plus cover other business needs.
Nuvama Wealth Management and Equirus Capital are leading the IPO process.
Starting out in 1997 making filters for trains and cars, Pioneer Fil-Med now also builds traction motors, alternators, and metro platform screen doors.
This IPO is their move to get bigger and more visible.