img

Suspense crime, Digital Desk : New Delhi – G-Tech Green Steel, a key Indian manufacturer of automotive components and part of the German-based G-Tech Group, is preparing to go public. The company has officially filed its draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).

The IPO will consist of a fresh issue of up to 5 million (50 lakh) equity shares. The primary goal of this public offering is to fuel the company's ambitious growth plans. A significant portion of the proceeds will be used to finance the construction and setup of a brand-new manufacturing plant in Ludhiana, Punjab. The remaining funds are allocated for meeting the company's working capital needs and other general corporate purposes.

G-Tech Green Steel specializes in producing high-precision automotive parts, including bearing cages, rings, circlips, and industrial seals. The company currently operates two state-of-the-art manufacturing facilities located in Gurugram, Haryana, and Pune, Maharashtra.

The company boasts an impressive roster of clients, supplying critical components to major multinational corporations in the bearing and automotive industries. Its key customers include industry giants like SKF, Schaeffler, Timken, NTN, and NRB Bearings, highlighting its strong position and reputation for quality in the market.

Financially, G-Tech Green Steel has demonstrated robust growth. For the fiscal year ending March 2023, the company reported a revenue of ₹34.33 crore and a net profit of ₹2.13 crore. The company's performance has accelerated in the current fiscal year. For the nine-month period ending in December 2023, its revenue already reached ₹30.73 crore, with a net profit of ₹2.44 crore, surpassing the entire previous year's profit in just three quarters.

The IPO is being managed by Sarthi Capital Advisors Private Limited, which is the sole book-running lead manager for the issue. KFin Technologies Limited has been appointed as the registrar. The company's move to the public market signals its confidence in its future and its strategy to scale up operations to meet growing demand in India's booming automotive sector.


Read More: Integrated Industries Multibagger Stock Turns One Lakh Rupees into Six Crores in Five Years

NTN Bearing circlips initial public offering Latest breaking news G-Tech Green Steel revenue working capital G-Tech Group Germany NRB Bearings industrial seals company financials SEBI filing Latest post NRB Bearings SKF supplier equity shares engineering company IPO bearing cages Sarthi Capital Advisors breaking news Schaeffler supplier DRHP engineering company IPO manufacturing in India Public Issue Kfin Technologies manufacturing in India steel rings IPO News G-Tech Green Steel IPO Stock market debut Timken India upcoming IPOs 2024 Investment Opportunity Timken India IPO News share sale Indian stock market automotive components manufacturer German Green Steel IPO Business Expansion auto parts India G-Tech Green Steel share price new manufacturing plant capital expenditure Ludhiana Punjab industrial manufacturing Gurugram plant Pune plant Pune plant automotive engineering precision components automotive engineering SEBI approval IPO Details Indian auto industry Make In India G-Tech Green Steel DRHP automotive sector growth Corporate finance market listing.