Shivganga Drillers eyes ₹400cr IPO—here's what you need to know
Shivganga Drillers, which helps oil and gas companies with drilling and project management, is planning to raise ₹400 crore through a fresh IPO.
There's no offer-for-sale here—just new shares hitting the market.
Aryaman Financial Services is leading the process.
Where's the money going?
Most of the funds—₹285 crore—will go toward buying new machinery, including two powerful rigs (1,000 HP and 1,500 HP).
Another ₹85.5 crore will be used to pay down existing debt, with the rest set aside for general business needs.
What does Shivganga Drillers actually do?
The company runs five rigs and offers services like onshore drilling, offshore maintenance, equipment rentals, and project management for India's oil and gas sector.
They've been on a growth streak too: revenue jumped 84% in FY24 to ₹354.4 crore, while profits more than doubled to ₹62.3 crore from the previous year.