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PM Cona Industries Files Draft Papers for IPO to Raise Funds
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News18•23-09-2026, 18:45
PM Cona Industries Files Draft Papers for IPO to Raise Funds
- •PM Cona Industries Ltd has filed preliminary papers with Sebi for an Initial Public Offering (IPO).
- •The IPO comprises a fresh issue of equity shares worth up to Rs 120 crore and an Offer For Sale (OFS) of 45 lakh equity shares by promoter Prakash Naraindas Motwani.
- •Proceeds from the fresh issue will be used for capital expenditure, including purchasing plant, equipment, and machinery, setting up 50 new display showrooms, and brand building.
- •Mumbai-based PM Cona Industries manufactures fast-moving electrical goods and wires under the 'PM CONA' brand, catering to low-voltage electrical equipment for domestic and commercial applications.
- •The equity shares are proposed to be listed on BSE and NSE, with Valmiki Leela Capital as the book-running lead manager and KFin Technologies as the registrar.
Key Questions Answered
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 120 crore and an offer for sale of 45 lakh equity shares by promoter Prakash Naraindas Motwani.
The company plans to use the proceeds for capital expenditure such as purchasing plant, equipment, and machinery, setting up 50 new display showrooms, brand building, marketing initiatives, and general corporate purposes.
The equity shares of PM Cona Industries are proposed to be listed on both the BSE and the NSE.
