Milestone Gears Ltd to Launch Rs 1,100 Crore IPO

Milestone Gears Ltd seeks to raise Rs 1,100 crore through an IPO; including Rs 800 crore from fresh issues and Rs 300 crore via an OFS. The funds will be used for debt repayment, a new project, and general purposes.

Milestone Gears Ltd, a precision components maker, has filed papers with Sebi for a Rs 1,100 crore initial public offering (IPO). This includes Rs 800 crore through fresh issue shares and a Rs 300 crore offer for sale.

Additionally, the company may utilize a Pre-IPO placement of up to Rs 160 crore, which would reduce the fresh issue amount. The funds raised will focus on debt repayment of Rs 356.86 crore, a new greenfield project amounting to Rs 296.42 crore, and general corporate purposes.

Milestone Gears manufactures high-precision transmission components used in sectors such as electric vehicles, windmills, and heavy industries. The company supplies these to over 50 customers, including the top OEMs in India. JM Financial, Axis Capital, and Motilal Oswal Investment Advisors have been appointed as book-running lead managers for this offering.

(With inputs from agencies.)