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News Topical, Digital Desk : Big IPO Alert: Gujarat-based Rotomag Enertec Limited has filed draft papers with SEBI for a ₹500 crore (approximately $1.5 billion) initial public offering (IPO). The company is backed by Mauritius-based BanyanTree Growth Capital. The IPO will consist of fresh shares issued, while promoters and existing shareholders, including BanyanTree, will sell 24 million shares through an offer for sale (OFS).
Rotomag Enertec IPO:
The company is also considering raising up to ₹100 crore in a pre-IPO round. At the time of the draft filing, the promoters held a 75.59 percent stake, while public shareholders held 24.41 percent. Banyantree Growth Capital acquired a 17.58 percent stake in the company in 2015. Rotomag Enertec manufactures DC motors, solar pumps, and photovoltaic string inverters. It has six manufacturing plants across the country. The company's products are used in various sectors, including plastics, textiles, pumps, wind energy, construction equipment, railways, and power distribution. The proceeds from the fresh issue will be used for repayment of non-convertible debentures, working capital, and general corporate needs. The proceeds from the OFS will go to the selling shareholders. In the 2025 financial year, the company's profit increased by 134.7 percent to ₹167.5 crore, compared to ₹71.4 crore in the previous year. Revenue jumped 82.2 percent to ₹1,265 crore during the same period. This IPO will be managed by Equirus Capital, CLSA India, and JM Financial.
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