AIG-backed Electromech Infraprojects, a mechanical, electrical and plumbing (MEP) solutions provider, has filed its draft red herring prospectus (DRHP) with SEBI to raise ₹326 crore through a fresh issue as part of its IPO. According to the DRHP filed on September 23, the public issue comprises fresh issuance of shares worth ₹326 crore, along with an offer-for-sale (OFS) of 18.91 lakh equity shares by the Maniar family (promoters) and investor AIG Direct LLC. The company plans to utilize ₹100 crore from the net proceeds towards working capital requirements and ₹76.47 crore to increase its shareholding in subsidiary Jika EPC Services from 34.78% to 60%.
American International Group-owned AIG Direct LLC, which proposes to offload 5.25 lakh equity shares through the OFS, holds a 7.04% stake in Electromech Infraprojects. Shreyas Shibulal, son of former Infosys CEO S D Shibulal, held a 1.47% stake in the company. The IPO also includes an offer-for-sale of 18.91 lakh equity shares by the Maniar family (promoters) and investor AIG Direct LLC. As reported by the company, the Mumbai-headquartered firm provides high- and low-voltage electrical and mechanical works, fire protection, and allied civil and interior fit-out services.
The company's order book for ongoing projects stood at ₹829.72 crore as of March 2026, including orders worth ₹729.46 crore in the data centre segment. According to the company's financial results, Electromech Infraprojects recorded a consolidated profit of ₹36.19 crore and revenue of ₹427.05 crore for the year ended March 2026. The company has a specialised focus on the technical design, execution, testing and commissioning of digital infrastructure for data centres and global capability centres, as well as commercial and industrial segments.
Beyond the working capital requirements, the company intends to invest ₹24.15 crore of the proceeds in subsidiary Sinerco Power Systems and ₹30 crore in subsidiary Electromech Global Holdings. The remaining proceeds will be utilised for general corporate purposes. Arihant Capital Markets has been appointed as the sole merchant banker for managing the Electromech Infraprojects IPO. The company's technical expertise spans across data centres, global capability centres, commercial and industrial segments, positioning it as a comprehensive MEP solutions provider in the digital infrastructure space.
