Atmatsco plans for ₹60 cr by way of IPO

Headquartered in Bhilai, Chhattisgarh, Atmatsco is providing 73.05 lakh shares, of which 54.80 lakh can be a recent subject and 18.256 lakh shares by way of an offer-for-sale (OFS). The inventory can be listed on NSE Emerge. The difficulty dimension is ₹60 crore.

The proceeds from the IPO can be used for working capital necessities and compensation of loans with a view to turn out to be a supplier of know-how options within the EPC sector to enhance effectivity on current and new contracts.

The revenue so generated from the EPC sector can be utilised in direction of the manufacturing of defence programs until September 2024 by way of its subsidiary Atmastco Defence Methods.

With ongoing initiatives price over ₹720 crore, the corporate has turn out to be constantly worthwhile during the last three monetary years. It recorded a outstanding 156 per cent improve in income in FY22-23 as in comparison with the earlier monetary 12 months.

The corporate has an annual capability of over 24,000 tonnes and workforce of about 250 staff,

Subramaniam Swaminathan, Chairman and Managing Director mentioned that about 75–80 per cent of the corporate’s predominant energy requirement is met by way of photo voltaic power.

Swaminathan Vijay Chander Iyer, Director, Atmastco Defence Methods, mentioned the corporate has partnered with the Defence Analysis and Improvement Organisation (DRDO) by way of a know-how switch licencing settlement.