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Milestone Gears has filed its DRHP with SEBI to raise ₹1,100 crore via public markets.
Hyderabad-based Milestone Gears manufactures tractor parts, transmission components for industries like transportation, construction, and EVs.
The deets: the company plans to issue ₹800 crore via fresh issue and ₹300 crore via offer-for-sale.
Of the fresh capital, ₹296.4 crore will be allocated to setting up a new manufacturing facility in Solan, Himachal Pradesh, ₹356.8 crore will go toward repaying outstanding borrowings.
Big picture: the company boasts a solid order book with clients like Tata, Mahindra, and JCB. Its FY25 profit surged 228.3%. With tractors accounting for 83% of its business, it’s well-placed to tap into India’s 6.7% growth in the agricultural tractors market.
Mordor Intelligence
