The IPO comprises an offer-for-sale (OFS) of up to 53.3 million equity shares with a face value of Rs 2 each. The OFS will be entirely undertaken by the promoter selling shareholder, Nitesh Gupta.
Vinir Engineering specializes in the production of critical, heavy, and precision-forged components for various industries, including energy, defense, aerospace, railways, and high-end engineering. Its products play an integral role in systems such as armored vehicles, oil and gas systems, combat equipment, aircraft propulsion, power turbines, railway locomotives, and nuclear energy infrastructure.
The company’s expertise covers a wide range of metals, such as alloy steel, titanium, hastelloy, stainless steels, duplex steels, inconel, and aluminum. It is equipped to manufacture components ranging from 20 kilograms to 6,000 kilograms, with a total installed capacity of 38,000 metric tons per annum (MTPA) distributed across three manufacturing units located in Bengaluru, Hosur, and Kalukondanapalli.
Vinir Engineering serves a diverse customer base spanning over 150 unique clients from sectors like energy, aerospace, and defense, both in India and abroad. Its international footprint includes markets such as the United States, Mexico, Spain, Malaysia, Saudi Arabia, and Canada. Between FY2022 and September 2024, Vinir Engineering added 39 new customers while maintaining an annual average of 60–70 active clients.
The global and Indian markets for precision-forged and machined components are on a growth trajectory, presenting a favorable outlook for the company. The global non-automotive forging market was valued at $33.16 billion in 2023 and is projected to reach $54.54 billion by 2030, growing at a CAGR of 7.4%. Meanwhile, the Indian non-automotive precision machined forging market, valued at Rs 13,117 crore in FY2024, is expected to grow at a CAGR of 8% to reach Rs 20,814 crore by 2030. These growth trends are driven by increased investments in infrastructure, oil and gas, and the aerospace and defense sectors, positioning Vinir Engineering to capitalize on emerging opportunities.Pantomath Capital Advisors Private Ltd is the Book Running Lead Manager for the issue, while KFIN Technologies Ltd will act as the Registrar.
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