**BanyanTree-backed Rotomag Enertec Files Draft Papers for ₹500 Crore IPO**
*By Dwaipayan Roy | Sep 27, 2025, 04:02 PM*
Gujarat-based Rotomag Enertec, a company backed by BanyanTree Growth Capital, has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). The firm aims to raise approximately ₹500 crore through a fresh issue of shares. Alongside this, existing shareholders including promoters and investor BanyanTree Growth Capital intend to sell a portion of their holdings.
### Shareholding and Stake Details
At the time of filing, the promoters held a 75.59% stake in Rotomag Enertec, while public shareholders owned the remaining 24.41%. BanyanTree Growth Capital is a significant investor with a 17.58% stake in the company. As part of its fundraising strategy, Rotomag may also consider raising up to ₹100 crore in a pre-IPO round prior to filing the red herring prospectus with the Registrar of Companies.
### Company Profile and Operations
Rotomag Enertec operates six manufacturing facilities across India and specializes in producing direct current (DC) motors, solar-powered pumps, and photovoltaic string inverters. Its products serve a wide range of industries including plastic processing, textiles, wind energy, and construction equipment.
The funds raised through the fresh issue will primarily be utilized for the redemption of non-convertible debentures and to meet the company’s working capital requirements.
### Strong Financial Performance
Rotomag Enertec has demonstrated impressive growth in both profit and revenue. For the fiscal year ending March 2023, the company reported a profit of ₹167.5 crore, marking a substantial increase of 134.7% from ₹71.4 crore in the previous year. Revenue also surged by 82.2%, reaching ₹1,265 crore compared to ₹694.2 crore in the prior fiscal year.
### IPO Management
Equirus Capital, CLSA India, and JM Financial have been appointed as merchant bankers to manage Rotomag Enertec’s IPO process.
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This IPO marks a significant step for Rotomag Enertec as it seeks to expand its footprint in the renewable energy and industrial equipment sectors with robust backing from BanyanTree Growth Capital.
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