• Offer for Sale: Equity shares up to 20,180,446 are offered for sale, each for a face value of Rs. 1.

• Price Range: Bid ranges between Rs.599.- Rs.629 per equity share.
• Issue Type: The IPO is a 100% book-built offer.
• Subscription date: The IPO subscription begins on February 10th, 2025 and ends on February 12th , 2025.
• Lot size: It is providing a lot size of 23.
• Listing Date: The IPO is going to be listed on February 17th , 2025.
• Stock Exchange: The IPO is going to be listed on BSE and NSE Limited.

The company with the help of this IPO strictly seeks to carry out the selling of the offered shares of up to 20,180,446 equity shares by its selling shareholders along with the deduction of its relevant taxes and charges. It further aims to enhance its visibility and value in the public market.

The table below (in millions) stipulates the restated Financial Information of the company for the last three financial years that ended on March 31, 2024, March 31, 2023, and March 31, 2022, and for the six-months period ended on September 30, 2024 and September 30, 2023.

India is experiencing drastic infrastructure developments with the commercial and the private real estate market constantly growing.

The concrete market especially the self-loading concrete mixers (SLCM) plays an essential role during construction and has its demand in the market due to the drastic commercial spaces, agriculture infrastructure, housing, urbanization, power projects etc. being undertaken by private and government parties.

The Infrastructure development market is expected to grow at CAGR 8% from 2024 to 2029 and this growth would influence the demand for mechanized concrete equipment in India and this demand for concrete equipment market which was valued at Rs. 61 billion (US$731 million) in 2024 and expected to reach Rs.178 billion (US$2,148 million) by 2029.

• The company since its inception has become a leading concrete equipment company has developed 141 concrete equipment variants and has sold over 29,800 equipment across India. 

• It is a leading company in a large and fast-growing SLCM market and has the largest dealership network in India with 51 dealerships across 23 states in India, and also has 25 global dealerships among various countries in Southeast Asia, the Middle East and Africa.   
• The company houses the best engineers, in-house research development and design management team with robust technologies ensuring the best quality to its clients. As of September 30, 2024, the company has maintained relationships with and sold concrete equipment and spare parts to more than 19,000 clients.
• The company has significantly grown increasing its revenue from operations from Rs. 7,632.89 million in 2022 to 17,414.03 million in 2024 (with Rs. 7,699.85 million and Rs. 6,848.59 million for the six-months ended on September 30, 2024, and September 30, 2023, respectively).

• The company’s major revenue is generated from the sale of self-loading concrete mixers (SLCM) which generated 85.13% of revenue from operations in the Financial Year 2024, any decrease in sales or demand in the market could adversely affect the business operations and financial conditions of the company.

• The company operation is seasonal due to the cynical nature of the concert equipment industry, any decrease in sales in certain quarters due to the changes in the political scenarios, economic conditions ithe public/private parties etc. could adversely affect the business operations and financial conditions of the company.
• The company’s operation heavily relies on its dealers that spans across many states in India and Southeast Asia, Africa and Middle Eastern countries, any disruption in the dealer network could adversely affect the business operations and financial conditions of the company.
• The company’s assembling and manufacturing units are located in the state of Karnataka, any political, economic or geographical disruption may adversely affect the business operations and financial conditions of the company.

The construction industry in India is increasing with the rapid development taking place in the commercial sector, public and private sectors undertaken by government and private entities and the demand for construction materials especially the self-loading concrete mixers (SLCM) will constantly remain high.

The company since its incorporation has become a leading company in a large and fast-growing SLCM market with numerous dealerships across India and some countries in the Middle-east, Asia and Africa. The company has established a strong supply chain of vendors of customers with revenue from operations increasing from Rs. 7,632.89 million in 2022 to 17,414.03 million, in 2024.

The SLCM market is expected to reach Rs.178 billion (US$2,148 million) by 2029 from Rs. 61 billion (US$731 million) in 2024. Given the continuous increase of construction projects and developments being undertaken, The company has strong potential and prospective investors should outline the risks given in the RHP prospectus before investing.

The company with the help of this Initial Public Offering (IPO) aims to utilize all the proceeds to offer for sale of up to 20,180,446 equity shares offered by its selling shareholders. It does not intend to use the proceeds for other purposes but additionally aims to take the opportunity to enhance its public visibility vide this IPO. The company has shown healthy and stable returns over the last three years and the industry the company deals in has potential growth further. Prospective investors should go through the risks given in the RHP prospectus before investing.