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19 Nov 2024
Unimech Aerospace, a manufacturer of precision parts and forged components for the aerospace sector, announced on Wednesday that it has secured ₹250 crore in private placement financing. The investment comes from Steadview Capital Mauritius Ltd, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd.
The newly raised funds will support the company’s expansion plans and strategic goals, as stated by Anil Puthan, Chairman and Managing Director of Unimech Aerospace.
Based in Bengaluru, Unimech Aerospace is preparing to file draft papers with SEBI for an Initial Public Offering (IPO). The company specializes in producing high-precision tooling for aero-engines and airframes, as well as complex components, assemblies, and electro-mechanical turnkey systems for the aerospace, defense, energy, and semiconductor sectors.
Founded in 2016 with a small team of five, Unimech Aerospace has grown significantly, achieving over ₹200 crore in revenue and employing 380 people in FY 2023-24, all without prior external funding. Anand Rathi Advisors facilitated the transaction as financial advisors.
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