Bengaluru-based Skytech Infinite Platform is turning to the public market to fuel its next phase of growth, with the industrial automation company set to open its Rs 22.68 crore initial public offering (IPO) on August 14.
The IPO will close on August 18 and is entirely a fresh issue of 29.45 lakh equity shares. The company's shares are proposed to be listed on the NSE Emerge with a tentative listing date fixed on August 21, according to the draft red herring prospectus.
The price band has been fixed at Rs 73-77 per equity share, with a lot size of 1,600 shares.
Skytech Infinite plans to expand its customer base, strengthen its presence across manufacturing, utilities and infrastructure and pursue opportunities in new geographies, the company said in a statement.
The net proceeds from the fresh issue worth Rs 16.81 crore will be utilised by the company to meet its working capital requirements. A portion of the proceeds will also be used for meeting issue-related expenses and general corporate purposes.
"The proposed IPO will strengthen our working capital position and support our ability to execute larger project requirements while expanding our presence across our target markets," said Paramashivam Deiveekan, MD at Skytech Infinite Platform Ltd.
Skytech Infinite Platform provides turnkey industrial automation solutions, covering the design, engineering, manufacturing, supply, installation, commissioning and maintenance of automation control panels and integrated control systems.
On the financial front, the company reported a 15.34 per cent year-on-year rise in total income to Rs 52.14 crore in FY26 from Rs 45.21 crore in FY25. Its profit after tax grew 13.21 per cent to Rs 4.20 crore from Rs 3.71 crore in the previous fiscal.
The company attributed the improved performance to higher operational volumes, new contracts and increased offtake from existing customers.
Finshore Management Services is the sole book-running lead manager for the IPO.
