Ardee Engineering Limited has made an initial public offering comprising a fresh issue of equity shares for an amount of up to ₹500 crore and offer for sale by the promoter for an amount of up to ₹80 crore.
Trilegal acted as the legal counsel to Ardee Engineering on this IPO.
TT&A is advising IIFL Capital Services Limited and JM Financial Limited, the book running lead managers to this IPO.
The transaction team consists of Abhinav Kumar (Partner), Shubham Sancheti (Managing Associate), Indira Satish (Senior Associate) and Daniyal Khan & Soham Vakil (Associates).
The company plans to utilize ₹279.6 crore from the net proceeds to establish two new manufacturing facilities in Seetharampur, Telangana, and ₹44.8 crore for a new integrated facility in Parawada, Andhra Pradesh. Additionally, ₹65 crore is earmarked for debt repayment, with the remaining funds allocated for general corporate purposes . As of March 31, 2024, Ardee Engineering reported revenue from operations of ₹620 crore and a profit after tax of ₹29 crore.
Headquartered in Hyderabad, Telengana, Ardee Engineering provides a diversified suite of end-to-end solutions across geographies and end-user industries, with a focus on pre-engineered buildings (“PEB”) and material handling systems. They deliver unique and customized engineering solutions for customers by working with them throughout the product and process design and development to establish optimal solutions.
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