Bollywood stars Ranbir Kapoor, Aamir Khan and cricketers Rohit Sharma and Jasprit Bumrah have invested in the pre-IPO round of power transmission company Karmtara Engineering. Karmtara Engineering is an integrated manufacturer of products for the renewable energy and transmission line sectors. The company provides mesh structures for transmission lines, fasteners for solar-wind, transmission and industrial sectors, overhead transmission line hardware fittings and accessories.
Bollywood stars and cricketers bought so many shares
According to a public announcement, company promoters Tanveer Singh and Rajeev Singh transferred 3,409,724 equity shares at a price of ₹310 per share. The value of this transaction is ₹106 crore. Ranbir Kapoor bought 161,300 shares by investing ₹5 crore. Aamir Khan bought 129,050 shares by investing ₹4 crore. Karan Johar has invested ₹1.5 crore. Rohit Sharma and Jasprit Bumrah have bought 64,520 shares at ₹2 crore per share.
The company will raise ₹1,750 crore through IPO
Karmatara Engineering had in January submitted preliminary documents to market regulator SEBI for approval to raise ₹1,750 crore through an IPO. The proposed IPO is a combination of fresh issue of shares worth ₹1,350 crore and offer for sale worth ₹400 crore. ₹1,050 crore raised from the fresh share issuance will be used to repay debt and for general corporate purposes. In FY24, Karmtara Engineering’s profit after tax was ₹102.65 crore. In FY23, the company’s profit was ₹42.36 crore. In the draft of the IPO, the company said it was entering the wind energy sector. The company is setting up a manufacturing plant to make tubular towers for wind turbines. This manufacturing plant is expected to be operational in the first quarter of fiscal year 2026.
