Apollo Techno Industries Aims for Expansion with IPO Launch

Apollo Techno Industries Limited, a key player in the construction equipment sector, is set to launch an IPO to fuel its expansion. The company, known for manufacturing specialized drilling rigs, aims to meet working capital needs and enhance market reach as it scales up operations domestically and internationally.

Apollo Techno Industries Limited, based in Mehsana, Gujarat, is preparing for a significant step in its growth trajectory by launching an Initial Public Offering (IPO). The company is the sole domestic manufacturer of Horizontal Directional Drilling Rigs and specializes in various other drilling equipment.

The proposed IPO, filed under the Draft Red Herring Prospectus with the BSE SME platform, will offer up to 3,700,000 equity shares at a face value of Rs. 10 each. The capital raised will be used to address working capital needs and general corporate purposes as Apollo expands its operational capabilities and market presence.

In the fiscal year ending March 2024, Apollo reported a revenue of Rs. 6,897.67 Lakhs and a net profit of Rs. 323.06 Lakhs. The company's diverse product range, combined with refurbishment services, underscores its commitment to quality and sustainability, key attributes as it navigates both domestic and international markets.

(With inputs from agencies.)