Liotech Industries, a leading manufacturer of precision hardware structures and accessories, including door kits, hinges, hooks, aldrops, locks and handles, plans to raise ₹36 crore through initial public offering on NSE SME platform.
The company will issue 11.22 lakh at the price of ₹321 a share. The issue will open for subscription on June 17.
The net proceeds from the IPO will be used for capital expenditure towards acquiring machinery, repayment of loan, working capital and general corporate purposes.
Wealth Mine Networks will be the lead manager to the issue and KFIN Technologies has been appointed as the registrar.
Hiteshbhai Mansukhbhai Bhuva, Managing Director, Liotech Industries said the company’s journey has been defined by a clear focus on quality manufacturing, precision engineering and customer-centric solutions. From a single manufacturing base in Rajkot, the company has steadily built a diversified portfolio of over 150 hardware and engineering products that serve the housing, infrastructure and industrial sectors across India, he added.
The IPO will enable the company to strengthen working capital, upgrade manufacturing infrastructure and enhance production capabilities, he added.
The initiatives will help to increase order-taking capacity, expand geographical presence and deliver higher value to maintaining consistent quality standards.
CA Shashank Doshi, Director, Wealth Mine Networks said with a strong focus on quality, customisation and timely delivery, the company has built a reliable presence across multiple regions in India.
Supported by an ISO-certified manufacturing facility and advanced production infrastructure, the company has consistently enhanced its in-house manufacturing capabilities and operational efficiency, he said.