Pune's Poojaa Precision Engg raises ₹45.1cr ahead of ₹159.8cr IPO
Business
Poojaa Precision Engg, a Pune-based aluminum die-casting company, just raised ₹45.1 crore from big investors before its IPO kicks off on July 28.
They sold 14.99 lakh shares at ₹301 each, and the upcoming IPO aims to bring in a total of ₹159.8 crore by offering 53.1 lakh new shares.
Abakkus buys 4.65L shares for ₹14cr
Abakkus Venture Opportunities Fund led the pack, grabbing 4.65 lakh shares for ₹14 crore, with Motilal Oswal Finvest and others joining in.
Most of the funds will help build a new manufacturing facility in Pune (₹106.3 crore), plus some will cover working capital and general corporate needs.
Founded back in 1992, Poojaa is also planning to expand into magnesium components, so things are definitely moving forward!
Hem Securities is managing the IPO process.