Clastek Engineering files DRHP for IPO on NSE Emerge

Clastek Engineering Limited, an integrated mould-to-component engineering firm based in Sriperumbudur, has filed its Draft Red Herring Prospectus (DRHP) with the NSE Emerge platform of the National Stock Exchange of India Limited in preparation for an Initial Public Offering (IPO).

The IPO will consist of a fresh issue of up to 5,500,000 equity shares with a face value of ₹10 each, and will contain no Offer for Sale component. The company intends to use the proceeds for the expansion of its existing manufacturing facility in Tamil Nadu, capital expansion, repayment or prepayment of certain borrowings, funding working capital requirements, and general corporate purposes.

Incorporated in 2008, Clastek Engineering manufactures injection moulds, moulded components, and fixtures for various sectors, including the automobile, medical equipment, consumer durables, and Electronics Manufacturing Services (EMS) industries. GYR Capital Advisors Private Limited is serving as the Book Running Lead Manager, while Cameo Corporate Services Limited is the Registrar to the Issue.