Bollywood stars and cricketers have invested in Karamtara Engineering, a company that makes products for the power transmission and renewable energy industries. Famous actors like Ranbir Kapoor and Aamir Khan, as well as cricketers Rohit Sharma and Jasprit Bumrah, have joined the company’s pre-IPO investment round.
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Karamtara Engineering manufactures products for solar energy structures, transmission lines, and the wind and industrial sectors. They offer a wide range of products, including structures for transmission lines, solar panel fasteners, and hardware for overhead transmission lines.
In this investment deal, Karamtara’s promoters, Tanveer Singh and Rajiv Singh, sold 34,09,724 shares at Rs 310 each, raising a total of Rs 106 crore. Kapoor bought shares worth Rs 5 crore (1,61,300 shares), Khan invested Rs 4 crore (1,29,050 shares), and filmmaker Karan Johar purchased shares worth Rs 1.5 crore (4.85 lakh shares). Sharma and Bumrah also bought shares, investing Rs 2 crore each for 64,520 shares.
Karamtara Engineering is planning to raise Rs 1,750 crore through an initial public offering (IPO). The IPO will include a fresh issue of shares worth Rs 1,350 crore and an offer for sale of shares worth Rs 400 crore by the promoters. The funds raised will help the company pay off debt and for general corporate purposes.
The company has been performing well financially. In FY2024, Karamtara’s profit after tax (PAT) grew to Rs 102.65 crore, more than double the Rs 42.36 crore profit in the previous year. Their revenue also increased, reaching Rs 2,425.15 crore, up from Rs 1,600.31 crore in FY2023.
