Suspense crime, Digital Desk : Patil Automation Private Limited (PAPL), a key Indian player in the industrial automation and robotics sector, is preparing to launch its Initial Public Offering (IPO). The company has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking the first major step towards its stock market debut.
The IPO will consist of both a fresh issue of new shares and an Offer for Sale (OFS) by existing promoters. Here’s a breakdown of what potential investors should know based on the initial filing.
Details of the Public Offering
- Fresh Issue: The company plans to issue 1,000,000 (10 lakh) new equity shares.
- Offer for Sale (OFS): Existing promoters and shareholders will sell up to 2,000,000 (20 lakh) shares.
- Total IPO Size: The total public issue will comprise up to 3,000,000 (30 lakh) equity shares.
How Will the Company Use the Funds?
The net proceeds from the fresh issue of shares will be allocated towards:
- Repayment or prepayment of certain borrowings.
- Funding the company’s working capital requirements.
- General corporate purposes.
Who is Selling Shares?
The Off Treatment Includes Shares Being Sold by the Company’s Promoters: Mahendra Patil, Ravindra Patil, Mangesh Patil, Jayashri Patil, and Rekha Patil.
About Patil Automation
Founded in 1992, Patil Automation is a technology-driven company that provides custom automation solutions across various industries. They specialize in integrating robotics for tasks like welding, assembly, and material handling, serving sectors such as automotive, e-commerce, food & beverage, and healthcare.
What’s Next?
Key details such as the IPO price band, the minimum lot size for investors, and the official dates for the public offering have not yet been announced. These will be finalized and released closer to the launch date. The company’s shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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