According to the company’s statement, ValueQuest Scale Fund and Evolvence India Fund IV Ltd also participated in the funding round.
Unimech Aviation, which makes manufactured parts and accuracy parts for the airplane business, on Wednesday said it has raised Rs 250 crore from financial backers, including Steadview Capital Mauritius Ltd, in confidential situation funding.
According to the company’s statement, ValueQuest Scale Fund and Evolvence India Fund IV Ltd also participated in the funding round.
Anil Puthan, Chairman and Managing Director of Unimech Aerospace, stated that the expansion efforts and strategic objectives of the company will benefit from the funds raised from this investment.
Unimech Aerospace, based in Bengaluru, is preparing to file preliminary documents for an Initial Public Offering (IPO) with the Securities and Exchange Board of India (Sebi).
The organization represents considerable authority in assembling high-accuracy tooling for air motors and airframes, alongside complex high-accuracy parts, congregations, and electro-mechanical turnkey frameworks for the aviation, protection, energy and semiconductor businesses..
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The company, which was founded in 2016 by a team of five individuals who relied solely on their own resources, will have 380 employees and a revenue of more than Rs 200 crore in FY2023-2024.
The transaction received advice from Anand Rathi Advisors.
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