This auto-parts maker is planning $300M IPO in India
What's the story
Faridabad-based auto-parts manufacturer, Victura Technologies, is said to be mulling an initial public offering (IPO) in India. The potential listing could raise as much as $300 million through a combination of fresh shares and an offer for sale. The company has already held preliminary talks with investment banks and may appoint advisers soon.
Ongoing negotiations
Discussions for IPO in early stages
The discussions for the IPO are still in their early stages, with details like size, structure, and timing yet to be finalized.
A representative for Victura Technologies has not responded to requests for comment on the matter.
If successful, this move would add to a growing list of auto-parts makers looking to tap into India's equity market.
Company profile
Company has 20 manufacturing facilities
Founded in 1972, Victura Technologies (formerly Victora Auto) manufactures automotive components and provides end-to-end metal engineering solutions.
The company caters to clients from various sectors including automotive, railways, defense, consumer electronics, and e-mobility.
It operates 20 manufacturing facilities.
A recent Goldman Sachs report highlighted that Indian auto-parts manufacturers trade at a premium to domestic carmakers due to their stronger growth prospects, despite lower returns on equity and margins.