IPO-bound Unimech Aerospace raises Rs 250 Cr
The startup specialises in manufacturing high-precision tools for the aerospace, defence, energy, and semiconductor industries.
Bengaluru-based Unimech Aerospace raised Rs 250 crore from Steadview Capital Mauritius Ltd, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd at a post-money valuation of Rs 3,250 crore.
The startup specialises in manufacturing high-precision tools 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.
"From our humble start in 2016 as a bootstrapped team of five, we've grown to over Rs 200 crore in revenue with 380 employees for FY 2023-24, all without external funding. Welcoming this first round of private placement fills us with gratitude and a profound sense of responsibility," said Anil Puthan, Chairman and Managing Director of Unimech Aerospace.
"By leveraging our investors' expertise in private and public equity, we aim to strengthen our strategies and operations... The funds raised from this investment will bolster Unimech's expansion efforts and strategic objectives,” he added.
“We are excited to partner with Unimech. Unimech showcases India's rise in global manufacturing with its technical expertise and ambitious yet prudent approach. The founders' journey represents a new generation of Indian entrepreneurs who combine bold ambitions with prudent business building. We believe Unimech is on a strong growth path as India secures its place in global manufacturing,” said Puneet Kumar, Managing Director at Steadview.
Unimech Aerospace's clients include top aerospace, energy, defence, and semiconductor OEMs. With diverse capabilities, it has also established itself as an export-oriented company with a presence in the US, Europe, and the UK.
Anand Rathi Advisors provided advisory services for this transaction.
Edited by Suman Singh