Stelmec Secures Rs 175 Crore to Power Up Expansion Plans

Mumbai-based power solutions provider Stelmec has raised Rs 175 crore from a group of investors. The funds will be used to boost expansion plans, enhance R&D capabilities, and strengthen both domestic and international markets. Hem Securities facilitated the transaction, with Abakkus Four2Eight Opportunities Fund as a partner.

Mumbai-based power solutions provider Stelmec announced on Monday that it has successfully raised Rs 175 crore from a group of investors. The influx of funds will be directed towards accelerating the company's expansion plans and enhancing its research and development capabilities.

Stelmec aims to strengthen its market presence, both domestically and internationally, with this financial boost. The transaction was facilitated by Hem Securities, which served as the financial advisor for the fundraise.

The investment, secured with the partnership of Abakkus Four2Eight Opportunities Fund, will enable Stelmec to scale up its provision of advanced electrical solutions, according to Managing Director Hamza Arsiwala.