Mumbai-headquartered Konstelec Engineers Limited (KEL), India’s leading electrical EPC services company, today announced that it aims to raise approximately Rs. 25 crores through an Initial Public Offering (IPO) slated for January this year. The company has already submitted its DRHP to SEBI and intends to be listed on NSE Emerge.

The IPO comprises a fresh issue of up to 41 lakh equity shares with a face value of Rs. 10 each at book-build price. Beeline Capital Advisors Private Limited is the Book Running Lead Manager whereas Skyline Financial Services Private Limited is the registrar of the issue.

The company plans to use most of its raised funds for working capital, procuring high-quality products for long-term projects, and providing collateral security, while the remaining funds will be used for general corporate purposes and public-issue expenses.
“Our combined experience of over six decades in this space, combined with the expertise of our exceptionally professional team, has driven our business beyond boundaries. Our robust order book and long-standing client relationships demonstrate our commitment to delivering high-quality, safe, and innovative solutions. We intend to use the proceeds from the IPO to meet working capital requirements for our long-term projects and efficiently carry on our operations in India and abroad,” said Mr. Biharilal Ravilal Shah, Chairman-cum-Managing Director of Konstelec Engineers Limited, in reference to the company’s plan for going public.
KEL is a leading provider of project management, procurement support, and engineering services for electrical infrastructure, instrumentation, and automation projects in India and abroad.

With over 50 major projects worth around Rs. 565 crore, KEL is currently working on projects for leading corporates like JSW Vijayanagar Metallics Ltd., Rajasthan Refinery Project, HRRL Pachpadra, Mangalore Terminal Expansion Project, Karnataka State, and Benue Cement Plant in Nigeria. The company counts leading corporate conglomerates, including Reliance Industries Limited, Engineers India Limited, JSW Steel, Indian Oil, BPCL, HPCL, CPCL, MRPL, ISRO, ACC, BARC, Dangote Industries Limited, Adani, NTPC, Tata Steel Limited, Navin Fluorine International Ltd., and IGPL, among its clientele.
KEL reported operating revenue of Rs. 153.40 crore in FY 2022-23, up from Rs. 107.05 crore in FY 2021-22. EBITDA of the company jumped from Rs. 5.84 crore in FY 2021-22 to Rs. 14.15 crore in FY 2022-23. KEL recorded over two-fold growth in profit (PAT) at Rs. 7.78 crore in FY 2022-23, compared to Rs. 3.52 crore in FY 2021-22.

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Konstelec Engineers SME IPO this January