H.M. Electro Mech Limited Files Draft Red Herring Prospectus with BSE SME

H.M. Electro Mech Limited has filed its Draft Red Herring Prospectus with BSE SME for an IPO to raise up to 37,00,000 Equity Shares. Established in 2003 as a partnership and later converted to a joint stock company, it is involved in water supply and electrification projects. Prominent clients include government bodies and banks.

H.M. Electro Mech Limited has submitted its Draft Red Herring Prospectus to BSE SME dated June 28, 2024, for an Initial Public Offering aimed at raising up to 37,00,000 equity shares.

Established initially as 'M/s H.M. Engineers' in 2003, the company transitioned from a partnership firm into a joint stock company and was renamed 'H.M. Electro Mech Limited'. The company's initial focus was on water supply infrastructure, later diversifying into electrification projects, collaborating with Indian Railways, Nationalized Banks, and Municipal Corporations.

The funds raised are intended for meeting working capital requirements and general corporate purposes, with Beeline Capital Advisors and Cameo Corporate Services managing the issue. H.M. Electro Mech Limited, an ISO 9001:2015 certified company, is recognized as a top-tier contractor in both Electrical and EPC contracts. The company secured significant government and educational sector projects, demonstrating robust financial growth with a revenue of ₹7,526.67 lakhs by December 2023.

(With inputs from agencies.)