“The whole issue would be a new equity offer fur,” the top official of the company said, “With the reduction of any stake through promoters or existing PE funds.”
“We are about to start IPOs, which will help us to be soulful in the production of robots used in automatic parking systems. Robot manufacturing facility will require around Rs 40 crore, while the remaining Rs 40 crore will be used for debt reduction and for larger projects.
The company has announced a new production facility in Bagnan in Howrah district of West Bengal, which includes an investment of around Rs 40 crore.
Once the house is fully operated with robotic production capabilities, the sophisticated plant is expected to create more than 100 jobs and increase the production capacity of Sotefine India, Chaudhuri said.
He added that the facility is estimated to support the construction of more than 10,000 automatic car parks or 25 automatic parking projects, he added.
The equity structure of the company has been organized evenly by two Indian promoters-Arup Chaudhuri and Jignesh Sanghvi-Swiswas partner Sotefine SA, and PE Funds, each of which is 25 percent.
After the IPO, the fresh issue will reduce all existing promoter holdings by 6.25 percent, taking public shareholding to about 25-26 percent, Chaudhuri said.
The list will also help to unle Lock, and the company is currently working to prepare draft red herring prospectus (DRHP) with merchant bankers, which are expected to file with a regulator within a month.
Officials said the company had its systems in the U.S. And has also started exporting in Dubai.
“Our order book is currently available for Rs. 5 crore, which is next 3-4-. Supports a growth of -4-60 % a year.
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