IPO
Electrical products maker PM Cona Ind files papers to raise Rs.120-Cr in fresh issue
Mumbai-based PM Cona Industries has filed draft papers to raise funds through an initial public offering. The transaction includes a fresh issue of equity shares worth INR 120-Cr and an offer for sale of 45 lakh equity shares by promoter Prakash Naraindas Motwani. Valmiki Leela Capital has been appointed as the book-running lead manager.The company manufactures electrical products, including fast-moving electrical goods and wires under the PM CONA brand, catering to the low-voltage electrical equipment market for domestic and commercial applications.The company plans to use the proceeds from the fresh issue for capital expenditure, including the purchase of plant, equipment, and machinery. Additionally, the funds are earmarked for setting up 50 new display showrooms, brand building and marketing initiatives.
For FY25, PM Cona had reported about INR 377 Cr in Operating Income and about INR 29 Cr in PAT.
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