Sotefin Bharat Poised for IPO to Boost Automated Parking Robot Manufacturing

Sotefin Bharat, a subsidiary of Swiss automated parking leader Sotefin SA, announced plans to enter the capital market with an Rs 80 crore IPO to fund the indigenous production of automated parking robots in West Bengal. The initiative is geared towards supporting the Make in India Atmanirbhar campaign.

The IPO will introduce a fresh equity offer without diluting existing promoter or private equity stakes, according to Managing Director and CEO Arup Choudhuri. The capital raised will finance the establishment of a robot manufacturing facility, debt reduction, and working capital enhancement for larger projects.

Located in Bagnan, West Bengal, the new facility expects to generate over 100 jobs and facilitate up to 25 automated parking projects annually. The equity restructuring post-IPO will slightly dilute promoter holdings, boosting public shareholding to around 25-26%. The company, already eyeing international markets, is preparing its Draft Red Herring Prospectus for regulatory approval.

(With inputs from agencies.)