Unimech Aerospace Raises Rs 250 Cr from Steadview Capital Ahead of IPO

New Delhi, Jul 24 (PTI) Unimech Aerospace, which manufactures forged components and precision parts for the aerospace industry, on Wednesday said it has raised Rs 250 crore from investors, including Steadview Capital Mauritius Ltd, in private
placement financing.

The funding round also saw participation from ValueQuest Scale Fund and Evolvence India Fund IV Ltd, the company said in a statement.

The funds raised from this investment will bolster the company's expansion efforts and strategic objectives, Anil Puthan, Chairman and Managing Director of Unimech Aerospace, said.

Bengaluru-based Unimech Aerospace is in the process of filing draft papers with the Securities and Exchange Board of India (Sebi) for floating an Initial Public Offering (IPO).

The company specialises in manufacturing high-precision tooling for aero-engines and airframes, along with complex high-precision components, assemblies, and electro-mechanical turnkey systems for the aerospace, defence, energy and semiconductor industries.

Founded in 2016 as a bootstrapped team of five, the company has grown to over Rs 200 crore in revenue and 380 employees for FY2023-24, without any external funding.

Anand Rathi Advisors provided advisory services for the transaction.