This 21 year old company is preparing to raise Rs 800 crore, has submitted papers with SEBI:

News Topical, Digital Desk : UKB Electronics Limited IPO: UKB Electronics Limited, the country's fast-growing electronic manufacturing service (EMS) provider company, is preparing to launch an IPO. The company has submitted its draft red herring prospectus (DRHP) with market regulator SEBI. With this, the company's plan to raise up to Rs 800 crore through IPO seems to be becoming clear.

There will be fresh shares worth Rs 400 crore

The proposed IPO will consist of fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of Rs 400 crore by existing shareholders. The company has also reserved a portion of its IPO for its eligible employees. Employees can also avail a discount on the offer price under the reservation quota.

UKB Electronics will use the money raised through the IPO to repay old debt, purchase machinery for its manufacturing units and for general corporate purposes. This money will strengthen the operational efficiency of the company and will also support the company's future plans.

What does the company do?

Formed in 2004, the company offers services in the electronics, aerospace and defense, transportation, automobile, industrial and renewable energy sectors, ranging from product design to prototyping, electronic solutions. Its products include electronics distribution systems, PCBA, cable assemblies, cords and EV charging solutions. The company currently exports to 17 countries. The equity shares of the company will be listed on BSE and NSE. Motilal Oswal Investment Advisors and IIFL Capital Services are the book running lead managers to the issue.