Leading Engineering, Procurement and Construction (EPC) company ATMATSCO LIMITED will open its Initial Public Offering (IPO) for subscription in February this year. The company will offer 73,05,600 equity shares, including 54,80,000 fresh issues and 18,25,600 through an Offer for Sale (OFS). The proceeds will be used for working capital requirements and loan repayments to become a provider of technology solutions in the EPC sector.
The profit generated from the EPC sector will be used to produce defence systems until September 2024 through its subsidiary, Atmastco Defence Systems Private Limited. With an order book exceeding Rs 700 crores, Atmastco is set to manufacture bulletproof helmets for defence, including specialized gear for female troops. The company has become consistently profitable over the last three financial years, with a 156% increase in revenue in FY 2022-23 compared to the previous year.
Mr. Swaminathan Vijay Chander Iyer, Director of a wholly owned subsidiary of Atmastco Defence Systems Private Limited, commented: “We are pleased to announce that our company has entered the space of defence research recently. This move is an indication of our commitment to enhancing technological capabilities in the field of defence materials.”
