Lucknow, October 13: Precision Engineering and Casting major PTC Engineering has successfully raised ₹1,800 crore through a Qualified Institutional Placement (QIP), issuing 8.54,700 fresh shares as it looks to advance growth opportunities in emerging sectors.
The company will be deploying the fresh capital to fund its aggressive growth strategy across the aerospace, defence, strategic materials, and space applications. PTC has made substantial investments into high value manufacturing supply chains, along with its subsidiaries Aerolloy Technologies and Trac Precision Systems, and aims to strengthen its manufacturing capabilities across the board.
With an issue price of ₹21,060 per share, this represents a 4.92% discount to the floor price of ₹22,150 per share. The QIP saw participation from major domestic and global investors like HDFC Mutual Fund, Fidelity Funds and Capital Group reportedly investing in the issue, though the company has not confirmed this. ICICI Securities and Goldman Sachs have reportedly acted as advisors to the transaction, which opened on October 9.
“This is a defining moment in PTC’s journey. The strong response to our QIP, and particularly the significant participation from global institutional investors alongside respected domestic institutions, is a powerful affirmation of the confidence placed in what we are building.
What makes this especially meaningful is that many of these global institutions understand the aerospace, defence, space, energy and advanced manufacturing ecosystems at a global level. They understand the scale of the opportunity, the strength of the demand environment, and also the real constraints in the supply chain – the availability of qualified, reliable and scalable manufacturing capability in critical materials and components.
For many years, our conviction has been that India must develop the ability to manufacture the advanced materials and critical components on which the world’s most demanding industries depend. We have worked steadily towards that goal, investing in technologies, people, infrastructure and manufacturing capabilities that take years to build, qualify and establish.
Today, with PTC Industries, Aerolloy Technologies and Trac Precision Solutions, we have a strong foundation across materials, castings, machining and precision manufacturing. The capital raised through this QIP gives us the financial strength to pursue the next phase of growth with greater ambition and flexibility, both organically and through carefully considered strategic opportunities.” Mr. Sachin Agarwal, Chairman and Managing Director, PTC Industries Limited, said in a press release.
