Maini Precision Products Ltd IPO

Last Updated: 24 July 2023 4:50 PM by 5Paisa

IPO Synopsis
Bengaluru-based Maini Precision Products Limited (MPPL) has filed preliminary papers with SEBI to raise funds between Rs. 800-900 crores through an initial share sale. 
The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs. 150 crore, and an offer for sale of up to 2,54,81,705 equity shares
As a part of the OFS, promoters will offload 60,20,765 equity shares, individual shareholders will sell up to 6,45,865 equity shares, other selling shareholders will sell up to 5,13,390 shares, and investor shareholders will sell 1,83,01,685 equity shares.
ICICI Securities and IIFL Securities are the book running lead managers to the Maini Precision Products issue.

Objective of the Issue
Proceeds from the issue will be utilised:
•    to repay/prepay ₹112.5 crore borrowings
•    for general corporate purposes

Bengaluru-based Maini Precision Products Limited is an end-to-end solutions provider engaged in process design, engineering, manufacturing, testing, and supply of a variety of precision products and assemblies.
It offers a diverse and critical manufacturing and finishing processes, including machined castings, die castings, machined forgings, bar route machining, plate machining, surface treatment, heat treatment, critical assembly, as well as ancillary activities such as end of line testing, export packing and warehousing.
The products are used across various industries such as aerospace, defense, automotive Clean Powertrain, power tools, material handling, hydraulic, marine, locomotive, and electronics.
It has a diverse portfolio of over 126 product families, and more than 50 customers in 2021, making it a strategic and preferred supplier. The company has 11 manufacturing facilities, which are located in Bangalore, India
The business is diversified into two business:
(a) aerospace, 
(b) automotive and industrial
Its experience in aerospace commercial programs has allowed it to associated with the defense majors based in USA, Europe and Israel for a range of defense programs. While its experience in precision engineering has enabled it to venture into 
(a) the Clean Powertrain market, where it supplies to global automotive Tier I players and OEMs in USA, Europe and India for a range of Clean powertrain programs
(b) various industrial segments like power tools, locomotive, and marine, wherein it supplies to OEMs in USA, Mexico, Europe and India
 

Peer Comparison