Victura picks Rothschild to help with $300-400 mn IPO
Mumbai, Sept. 15 -- Faridabad-based Victura Group, which makes components for the auto sector, has picked Rothschild as an advisor to oversee its public listing process that could raise as much as $300-400 million, two people familiar with the matter said.
"Rothschild has been roped in as an independent advisor to help with the listing process. Victura has held initial discussions with merchant bankers and is expected to make appointments over the coming months for a potential listing later next year," one of the people cited above said on the condition of anonymity. If it goes as planned, Victura will join the growing list of other auto component makers such as Hero Motors and Dhoot Transmission that have gone public this year. Mint also reported that Bain-backed RSB Transmissions has kicked off a process for a public listing.
The listing will likely be a mix of primary capital raise and secondary share sale by existing shareholders, the second person added. The company is likely to use the proceeds from the IPO to expand operations, as the promoters look to pare some of their stake.
Rothschild and Victura Group did not respond to Mint's requests for a comment till the time of publishing.
Established in 1972 by the Banga family, Victura manufactures and supplies automotive, sheet metal components, automotive seat frames, exhaust system components, stampings, exhaust hangers & pressure pipes, forged components, CNC & machined components.
The company, which set up its first plant in Faridabad, has expanded to five other states and 10 warehousing centres across the US, Mexico, the Czech Republic, South Africa and Europe, as per its official website. Its clients include original equipment manufacturers in the PV, 2W, tractor, agricultural and construction equipment segments....
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