IPO Objectives
1. Funding the capital expenditure requirements of our Company towards:(i) Purchase of new machinery and equipment for our manufacturing facility located in Gangol, Meerut, Uttar Pradesh (“Gangol Manufacturing Facility”) for increasing our transformer manufacturing capacity, expanding and automating our backward integration facilities and enhancing operational efficiency;(ii) Civil construction and interior development of an office building at our Gangol Manufacturing Facility; and(iii) Enhancing our sustainability initiatives by (a) setting up of solar power plants at our manufacturing facility locatedin Rithani, Meerut, Uttar Pradesh (“Rithani Manufacturing Facility”, and together with the Gangol Manufacturing Facility, the “Manufacturing Facilities”) and Gangol Manufacturing Facility, and (b) purchasing electric trucks and forklifts (together, “Electric Vehicles”) for handling and movement at our Gangol Manufacturing Facility.(collectively, the “Capital Expenditure Requirements”);
2. Funding incremental working capital requirements of our Company; and
3. General corporate purposes.
