Patil Automation to raise ₹70 crore from its upcoming IPO 

Patil Automation, a provider of customised automation solutions, plans to raise over ₹70 crore through its IPO, going live on June 16.

Shares of the company will be offered on the NSE's SME platform Emerge, and the IPO, which is priced between ₹114 and ₹120 per equity share, will be open until June 18, the company announced.

The Pune-based business plans to issue 58.01 lakh new shares in an attempt to raise ₹69.61 crore.

The IPO's net proceeds will be used for general business objectives, debt repayment, and capital expenditures for the establishment of a new manufacturing facility.

Citing Patil Automation's Managing Director Manoj Patil, CNBC TV 18 reported, "the upcoming IPO is a significant milestone aligned with our long-term vision. The capital raised will be deployed towards setting up a new manufacturing facility, enabling us to meet rising demand, especially in the electric vehicle segment and defence. It will provide financial flexibility to support future growth."

Patil Automation engineers fully automated robotic lines and customised automation solutions for automotive, electric vehicle, defence, and agricultural machinery manufacturers. The company has a client base of original equipment manufacturers, Tier I suppliers, and various automakers.

The business reported ₹118.05 crore in revenue and ₹11.70 crore in profit after taxes for FY25.