NEW DELHI — Paluck Technologies, an engineering-services group operating in the telecom and construction sectors, has announced plans to raise ₹33 crore through an initial public offering (IPO) on the BSE SME platform.
The company will issue 68.76 lakh equity shares with a price band set between ₹46 and ₹48 per share. The public issue is scheduled to open for subscription on August 28, while anchor bidding will commence on Thursday.
According to the company, the net proceeds generated from the IPO will be utilized for specific corporate objectives. These include funding capital expenditure for the purchase of new Ready-Mix Concrete (RMC) machinery and DG sets, repayment of certain outstanding borrowings, funding working capital requirements, and general corporate purposes.
Horizon Management has been appointed as the Book Running Lead Manager for the issue, and Bigshare Services is acting as the registrar.
Navin Katiyar, Managing Director of Paluck Technologies, noted that the business has evolved from a focused service provider into an integrated platform catering to telecom infrastructure and construction equipment needs. Katiyar stated that the fresh investments aim to enhance the company's execution capabilities for larger opportunities and support growing customer requirements.
Narendra Bajaj, Director at Horizon Management, highlighted that the company's business model combines telecom engineering services with an asset-backed construction equipment and RMC rental business. Bajaj added that access to public capital markets will strengthen the operating platform and provide the company with greater financial flexibility as it pursues its development plans.
"The decision by Paluck Technologies to go public via the BSE SME platform reflects a growing trend of specialized engineering and infrastructure service firms utilizing public markets for capital. By directing funds toward asset acquisition, such as RMC machinery and DG sets, alongside debt reduction and working capital support, the company is systematically strengthening its balance sheet to handle larger project scales. Access to public equity provides these operational platforms with the financial flexibility necessary to sustain growth in asset-heavy sectors." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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