Steadview Capital, ValueQuest, and Evolvence India Invest Rs 250 Crore in IPO-Bound Unimech Aerospace

Steadview Capital, ValueQuest, and Evolvence India Invest Rs 250 Crore in IPO-Bound Unimech Aerospace

Mumbai/ Bengaluru July 24, 2024 (GNI): Bengaluru-based Unimech Aerospace has successfully raised Rs 250 crore from prominent investors Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd at a post-money valuation of Rs 3,250 crores, as a part of the Company’s private placement round. Anand Rathi Advisors provided advisory services for this transaction.

Unimech Aerospace specializes in manufacturing of high precision tooling for aero-engines and airframes, along with complex high precision components, assemblies, and electro-mechanical turnkey systems for the aerospace, defence, energy, and semiconductor industries. Their advanced capabilities and commitment to quality make them a trusted partner for some of the global OEMs and Tier 1s in the industry.

Reflecting on the fundraise and its utilization, Anil Puthan, Chairman and Managing Director of Unimech Aerospace, said, “From our humble start in 2016 as a bootstrapped team of five, we’ve grown to over INR 200 crore in revenue with 380 employees for FY 2023-24, all without external funding. Welcoming this first round of private placement fills us with gratitude and a profound sense of responsibility. This investment will enable us to pursue both organic and inorganic growth, enhancing our Build to Print and Build to Spec solutions.”

Anil Puthan, further added,” We are delighted to announce this private placement round and grateful for the support of our investors. Beyond financial support, this investment brings invaluable intellectual capital. By leveraging our investors’ expertise in private and public equity, we aim to strengthen our strategies and operations. This milestone underscores our unwavering commitment to transparency, governance, and shareholder value. The funds raised from this investment will bolster Unimech’s expansion efforts and strategic objectives.”

Pushkar Jauhari, MD & Head – Private Equity at ValueQuest said “We are happy to partner with Unimech. Led by capable founders, with focus on quality, strong financial metrics, and a culture of learning, we believe in Unimech’s long-term success and look forward to this partnership.”

Abhishek Chandra, Managing Director at Evolvence India, said, “We believe in Unimech’s efficient, high-value manufacturing model. We trust the vision of the founding team, and their complementary skill set and deep domain knowledge, to fuel exponential growth. We are excited to partner with them on this journey

Puneet Kumar, Managing Director at Steadview, said, “We are excited to partner with Unimech. Unimech showcases India’s rise in global manufacturing with their technical expertise and ambitious yet prudent approach. The founders’ journey represents a new generation of Indian entrepreneurs who combine bold ambitions with prudent business building. We believe Unimech is on a strong growth path as India secures its place in global manufacturing.”

Unimech Aerospace, looks forward to the opportunities ahead as it enters this next phase of growth, guided by its dedication to precision and innovation in the domestic and international aerospace, defense, energy and semiconductor industries.

About Unimech Aerospace: Unimech Aerospace is a key link in the global supply chain and provides high precision engineering solutions, focusing on complex manufacturing, machining, and custom product development across industries such as aerospace, energy, defense, and semiconductors. Key clients include top aerospace, energy, defence and semiconductor OEMs. With diverse capabilities, Unimech Aerospace has also established itself as an export-oriented company with a robust presence in the USA, Europe, and the United Kingdom.

About Anand Rathi Advisors Ltd: Anand Rathi Advisors Limited is a full-service investment bank focusing on India’s consumption story. Its services include fund raising through Private Equity, Initial Public Offerings, Qualified Institutional Placements (QIPs), Rights Issuance, Mezzanine Funding / Structured Financing solutions, and corporate advisory services including PE, M&A, buybacks, delisting, open offers, among others.

About ValueQuest: Founded in 2010, ValueQuest is a leading alternate investment firm with AUM of ~ INR 150 bn deployed in India across a range of public and private market portfolio strategies. ValueQuest S.C.A.L.E. Fund is a Category II Alternative Investment Fund registered with SEBI.

About Evolvence India: Evolvence India (EIF) is an investment management platform focused on private markets in India. The firm has a track record that spans over 17 years across multiple funds and more than $800 million invested in early to late-stage companies.

About Steadview: Steadview is a global investment firm with a strong focus on India, managing $2.7 billion in AUM. It has backed some of India’s leading companies, including Astral, Dixon, Lenskart, Nykaa, Dream11, and Policybazaar.ends GNI