• IPO comprises a fresh issue of up to 41 lakh equity shares with a face value of Rs. 10/- at book build price.
• To float IPO in the second half of January 2024; aims to be listed on NSE Emerge
• Plans to utilise proceeds for working capital requirements for long-term projects and general corporate purposes
• Company offers a full range of EPC services, specialising in comprehensive engineering services for electrical infrastructure projects in India and overseas
• Offers its services in several manufacturing industries such as oil & gas, refinery, steel, cement, pharmaceuticals, health care, etc. 
• Company has a strong order book of over 50 major projects worth around Rs. 565 crore that are in various phases of implementation across India and abroad
• Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the registrar to the issue 

MUMBAI, 7 JANUARY, 2024 (GPN): Konstelec Engineers Limited (KEL), India’s leading electrical EPC services company, today announced its plans to raise approximately Rs. 25 crore from the Initial Public Offering to be launched in January 2024. The company aims to be listed on NSE Emerge. The Initial Public Offering will comprise a fresh issue of up to 41 lakh equity shares with a face value of Rs. 10/- each at book build price. Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the registrar of the issue.

The Mumbai-headquartered EPC contractor specialises in delivering full-scale project management, procurement support and comprehensive engineering services for various electrical infrastructure, instrumentation and automation projects across India and abroad. Its services are applicable in several manufacturing industries, such as oil & gas, refinery, steel, cement, pharmaceuticals, textiles, hospitals, and health care, both domestically and internationally.

KEL has a strong order book of over 50 major projects worth around Rs. 565 crore in order value that are in various phases of implementation. The company’s ongoing projects include electrical, construction power work and instrumentation work for leading corporates such as JSW Vijayanagar Metallics Ltd, Rajasthan Refinery Project, HRRL Pachpadra, Mangalore Terminal Expansion Project, Karnataka State and Benue Cement Plant in Nigeria.

The company intends to utilise a majority of funds raised proceeds towards the working capital expenses for procuring high-quality products for its long-term projects and to provide collateral security to various clients. It will use the remaining funds for general corporate purposes and to meet public-issue expenses.

Speaking about the company’s IPO plans, Mr. Biharilal Ravilal Shah, Chairman cum Managing Director of Konstelec Engineers Limited, said, “Our combined experience of over six decades in this space combined with the expertise of our exceptionally professional team has driven our business beyond boundaries. Our robust order book and long-standing client relationships demonstrate our dedication to delivering high-quality, safe and innovative solutions. We intend to use the proceeds from the IPO to meet working capital requirements for our long-term projects and efficiently carry on our operations in India and abroad.”

In FY2022-23, KEL recorded a revenue from operations of Rs. 153.40 crore, up from Rs. 107.05 crore in FY2021-22. The company’s EBITDA stood at Rs. 14.15 crore in FY2022-23, up from Rs. 5.84 crore in FY2021-22. KEL recorded over two-fold growth in profit (PAT) at Rs. 7.78 crore in FY2022-23, compared to Rs. 3.52 crore in FY2021-22.

The company counts leading corporate conglomerates, including Reliance Industries Limited, Engineers India Limited, JSW Steel, Indian Oil, BPCL, HPCL, CPCL, MRPL, ISRO, ACC, BARC, Dangote Industries Limited, Adani, NTPC, Tata Steel Limited, Navin Fluorine International Ltd and IGPL among its clientele.

For more information, please visit: https://www.konstelec.com/