Bollywood celebrities and cricketers, including Ranbir Kapoor, Aamir Khan, Karan Johar, Rohit Sharma, and Jasprit Bumrah, have backed a Rs 1,750 crore Initial Public Offering (IPO).
Title: Bollywood and Cricket Stars Invest Hefty in Karamtara Engineering's Clean Energy IPO: Here's the Lowdown!
Hey there! Let's delve into the buzz swirling around Karamtara Engineering's upcoming IPO, with a splash of investments from Bollywood and cricket celebs.
Star-studded Investments in Karamtara IPO
Ranbir Kapoor, Aamir Khan, Karan Johar, Rohit Sharma, and Jasprit Bumrah, accompanied by Bimal Parekh, contributed close to Rs 30 crore by purchasing 9.68 lakh shares at Rs 310 apiece, valuing Karamtara at around Rs 10,411 crore post-issue[1]. It's clear that these celebrities are banking on clean energy technology.
IPO Size and PurposeBased in Mumbai, Karamtara Engineering eyes a fundraise of Rs 1,750 crore, comprising a fresh issue worth Rs 1,350 crore and an OFS worth Rs 400 crore. The promoters, Tanveer Singh and Rajiv Singh, plan to offload Rs 200 crore of their shares each in the OFS[1].
Debt Reduction: A PriorityKaramtara plans to utilize Rs 1,050 crore of the fresh issue proceeds to tackle its existing debt burden, as the company's borrowings and LoC acceptances currently amount to Rs 1,319.4 crore as of November 2024[1].
Preceding Fundraising RoundsPrior to the celebrity-led buzz, Karamtara had already secured Rs 307 crore through a preferential allotment in January 2024. Participating investors included Singularity Growth Opportunities Fund, Quantum State Investment Fund, Ananta Capital, and Gaurav Trehan, among others[1].
About the CompanyA backward-integrated manufacturer, Karamtara Engineering holds a strong presence in the solar and transmission sectors. It competes with industry giants like Inox Wind, KP Green, and Suzlon Energy[1].
Embrace the power of clean energy as Karamtara Engineering gears up for its IPO. Stay tuned for more updates on this exciting venture.
Sources:- [1] https://economictimes.indiatimes.com/news/equities/news- [2] https://www.thehindubusinessline.com/- [3] https://www.karamtara.com/- [4] https://www.bseindia.com/
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- It seems that Ranbir Kapoor, Aamir Khan, Karan Johar, Rohit Sharma, Jasprit Bumrah, and Bimal Parekh, along with others, have invested a combined Rs 30 crore in Karamtara Engineering's IPO, showing their interest in clean energy technology.
- With the intention of utilizing Rs 1,050 crore to reduce its existing debt, Karamtara Engineering, a company competing with industry giants like Inox Wind, KP Green, and Suzlon Energy, is planning a fundraise of Rs 1,750 crore, involving a fresh issue of Rs 1,350 crore and an OFS of Rs 400 crore.
- Prior to the celebrity-led investment, Karamtara Engineering had already managed to secure Rs 307 crore through a preferential allotment in January, with investors like Singularity Growth Opportunities Fund, Quantum State Investment Fund, Ananta Capital, Gaurav Trehan, and others participating in the round.
- The power sector is not just witnessing investments from Bollywood and cricket stars but also from Defi (Decentralized Finance) investors as the market anticipates Karamtaporfolio trading opportunities.
- Karamtara Engineering's IPO, aiming to raise Rs 1,750 crore, is poised to be worth something significantly worthwhile for all its invested parties, including Kapoor and other celebrity investors, as the company delves deeper into the clean energy sector, potentially leading to a singularity-level impact in the sports and energy industries.
