PME power solutions (India) ltd. (formerly known as pme transformers (India) ltd. Was established in the year 1986. A completely integrated power solution provider we are committed to deliver power solutions depending upon the needs of our valued customers, by employing state of the art technology available under one roof. Pioneers in research oriented technology with the productive insight of power sector, pme is an accredited star export house and has won recognitions worldwide. We are one of the leading brands in the power industry.
We manufacture a wide range of power & distribution transformers, dry type transformers & special transformers e. T. C. We expertise in the regime of EPC (engineering procurement & construction) of HV, EHV distribution, transmission lines, HV, EHV substations, restoration of grid lines and substations. We have achieved pursuit of excellence being centenarians in energy consultancy and we also expertise in solar products, led products and solar turnkey solutions.
Strict adherence to exacting standards of excellence, constant innovation and customization coupled with superior product quality and service are just some of the reason that makes PME the preferred vendor worldwide. The company has made substantial progress backed by a strong research and development effort to provide the benefit of state of the art technology to our valued customers by supplying world class products with highest standards of quality assurance. Currently we supply to major power utilities, power distribution companies, project consultants and overseas buyers.
More than Rs. 500 Crore ( or More than US$ 100 Mn Approx.)
Posted on: [22-JUL-11]
PME files DRHP in SEBI
Transformer-maker PME Power Solutions today filed preliminary papers with market regulator Sebi for an initial share sale, through which the firm expects to raise up to Rs 300 crore.
The proceeds would be mainly utilised for expansion activities, as well as to repay debts.
PME Power Solutions (India) Ltd plans to issue over 1.14 crore equity shares, each having a face value of Rs 10, according to its Draft Red Herring Prospectus (DRHP).
Market sources said the initial share sale of PME Power is expected to mop up about Rs 250 to 300 crore. The IPO is likely to hit the market toward the end of this year, they added.
The funds raised from the share sale would be used for "setting up of manufacturing facilities at Moradabad, in Uttar Pradesh, aimed at enhancing our transformer production capability up to 315 MVA at 400 KV class."
Further, the proceeds would be utilised to repay existing borrowings and for general corporate and other purposes, as per the DRHP.
The book running lead managers for the issue areEdelweiss Capital and Imperial Corporate Finance and Services Pvt Ltd.
The IPO would constitute 25 per cent of the company's fully diluted post issue paid-up share capital.
PME manufactures power and distribution transformers up to 40 MVA of 132 kv class. It is also into transmission and distribution related activities.
P. M. E. Power Solutions India Limitedhttp://www.indiamart.com/pme-power-indialtd/