Maini Precision Products has filed its DRHP with SEBI to raise Rs 900-crore

The Bengaluru based company provide solutions in process design, engineering, manufacturing, testing, and supply of a variety of precision products and assemblies.

Maini Precision Products has filed draft documents with the market regulator SEBI to raise up to INR 900 crores through an initial public offering. According to its draft red herring prospectus (DRHP), the company will issue equity shares worth Rs 150 crore and an offer for sale of 2,55 crore equity shares by promoters and existing shareholders.

At present, promoters hold a 75.80 per cent stake in the company. As per the market sources, it is understood that the company will be able to fetch anywhere between INR 800-900 crores. It will use the funds for debt repayment, expansion of its manufacturing facilities and for funding its working capital requirements.

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Incorporated in 1973, the company is part of the Maini Group is a diversified manufacturer and supplier of high precision components and assemblies, catering to a global clientele in the automotive & industrial and aerospace sectors. Their marquee customers include Robert Bosch GmbH, Stanley Black & Decker and others.

The company has appointed ICICI Securities and IIFL Securities as the lead managers to this issue. Link Inktime India has been appointed as the registrar to this issue.