MILLTEC Machinery Limited IPO date is out in the market. It will start from July 2018 and close on July 2018 with total IPO size of 500 Cr.
Agro-Processing Equipment Manufacturer Milltec Machinery now deposited the document to market regulator SEBI for raising around Rs 500 crore via IPO. Private equity firm Multiples Alternate Asset Management (Multiplex PE) led by Renuka Ramnath had acquired 49% stake in the investment in about 250 crore rupees in Milltec in 2013. It can sell some of its stake in the IPO.
People familiar with this development told that about 30% of the stock can be sold by the existing shareholders in the IPO. Motilal Oswal Investment Advisors have been made Book Running Lead Managers for IPO.
Equity shares will be kept for sale till 37,51,499 under the IPO of Milltec Machinery. It is equal to 37.5% stake in the company. With this issue, the company is expected to get Rs 500 crore
Milltec supplies equipment to grain mills. Its product portfolio includes paroboying, drawing, pre-cleaning, de-stoning, de-hasking, thickness grading, polishing, length grading, sorting and packaging equipment. It supplies equipment to 2-20 tonne capacity mills. Along with this, it also offers end-to-end turnkey solutions for rice processing.
The company gets a lot of business from the rice processing industry. Rice processing industry is growing rapidly due to rising demand for rice in the country. With the increase of urbanization and per capita income in the country, sales of branded rice are increasing. This will also increase the demand for equipment for rice processing in the coming time.
MILLTEC Machinery Limited is planning to launch new products to reduce the risks associated with the season in the agriculture sector. Along with this, it is also considering increasing the growth through the acquisitions. Last year, Milk has bought Sunshine’s business and integrated it with him.
Check more upcoming ipo in India 2018 which are currently listed here with ipo 2018 calendar – ipo size, date & price band..
MILLTEC Machinery IPO Reviews:
- To be updated here
Milltec Machinery IPO Details
|Subscription Dates||-July to -July-2018|
|Issue Price Band||INR|
|Minimum bid (lot size)||Shares|
|Face Value||INR 10 per share|
|IPO Size||INR 500 Cr|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
Milltec Machinery IPO Financial Performance (in INR crore)
Milltec Machinery IPO Subscription Status
|Category||Day 1||Day 2||Day 3|
Milltec Machinery IPO Review:
- Good for Short Term & Long Term
Milltec Machinery IPO Prospectus:
- Draft Prospectus
- Red Herring Prospectus
Milltec Machinery IPO Lead Manager(s):
- IIFL Holdings Limited
- Motilal Oswal Investments Advisors Pvt Ltd
Milltec Machinery IPO Promoters:
- Rajendran Joghee
- Ravindranath Ramaiah
- Manjula Rajendran
- Uma Rachappa
Company Contact Information:
MILLTEC Machinery Limited
#51/A, Phase I,
KIADB Industrial Area, Bommasandra
Bengaluru – 560 099
Phone: +91 80 2801 6633
Fax: +91 80 2783 1129
Email: [email protected]
Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078
Email: [email protected]