Mumbai - Amic, an Indian company specializing in precision machined components, is set to launch its Initial Public Offering (IPO) with a goal of raising ₹34.80 crores. The public offering, managed by Gretex Corporate Services Limited, is scheduled to begin Wednesday and will continue until Friday.
The funds from the IPO are earmarked for several strategic initiatives, including the establishment of a new manufacturing site, which will require an investment of ₹2,235.20 lakhs. Additionally, the company plans to bolster its working capital by ₹750 lakhs (approx. $899,395) and allocate funds for general corporate purposes.
Amic's growth trajectory has been impressive, with revenue skyrocketing from ₹2,643.37 lakhs in the financial year 2021 (FY21) to ₹11,683.01 lakhs in FY23. The company's financial health is further evidenced by solid EBITDA margins of 12.45% and PAT margins of 8.39% for FY23.
The organization attributes its success to a strong senior management team and sustained partnerships with clients. Adhering to international production standards such as AISI and DIN, Amic has established itself as a provider of superior quality products, including main shafts for wind energy, catering to sectors ranging from heavy engineering to various energy markets.
As part of its growth strategy, Amic aims to expand its service range across multiple industries. This expansion comes against the backdrop of India's metal forging market, which is expected to see robust growth and potentially double by the end of the decade.
The IPO anchor allocation will be handled by Gretex Corporate Services Limited on Tuesday, marking the commencement of a significant phase in Amic's financial journey and its continued commitment to quality and industry expansion.
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