Parth Electricals Powers Ahead with Robust IPO and Expansion Plans

Parth Electricals & Engineering announced it has successfully secured Rs 13.8 crore from anchor investors ahead of its planned initial public offering (IPO) on August 4, with ambitions to raise Rs 49.72 crore. The IPO will see shares priced between Rs 160 and Rs 170, adding fresh stock to the NSE SME's Emerge platform.

Anchor investors in the funding round include Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund. The Vadodara-based company plans to allocate Rs 20 crore for a new GIS manufacturing unit in Gujarat and Rs 19 crore for a facility in Odisha, with additional funds geared toward debt settlement and general corporate expenses.

Responding to burgeoning demand, Parth Electricals is expanding its workforce from 250 to 550 and enhancing its order portfolio, capped by a recent Rs 48 crore contract with Waaree Energies. Esteemed clients include industry giants like Adani, Tata Power, and Reliance Industries. The company projects continued growth, with a reported FY25 revenue of Rs 174.67 crore and a profit after tax of Rs 10.11 crore.

(With inputs from agencies.)