Konstelec Engineers plans to raise Rs 25 crore in January IPO
IPO, which will be launched later this month.
The SME IPO will include a fresh equity issue of 41 lakh shares.
Beeline Capital Advisors is the book-running lead manager, and Skyline Financial Services is the registrar of the issue.
The Mumbai-headquartered EPC contractor specialises in delivering full-scale project management, procurement support and comprehensive engineering services for various electrical infrastructure, instrumentation, and automation projects across India and abroad.
Its services are applicable in several manufacturing industries, such as oil & gas, refinery, steel, cement, pharmaceuticals, textiles, hospitals, and health care, both domestically and internationally.
Konstelec Engineers has a strong order book of over 50 major projects worth around Rs 565 crore in order value that are in various phases of implementation.
The company’s ongoing projects include electrical, construction power work and instrumentation work for leading corporates such as JSW Vijayanagar Metallics Ltd, Rajasthan Refinery Project, HRRL Pachpadra, Mangalore Terminal Expansion Project, Karnataka State and Benue Cement Plant in Nigeria.
The company counts leading corporate conglomerates, including Reliance Industries, Engineers India, JSW Steel, Indian Oil, BPCL, among others as its clientele.
Majority of the funds raised will be used to meet the working capital expenses for procuring high-quality products for its long-term projects and to provide collateral security to various clients.
«Our robust order book and long-standing client relationships demonstrate our dedication to delivering high-quality, safe and innovative solutions,» said Biharilal Ravilal Shah, chairman and managing director of Konstelec Engineers.
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