Automotive solutions firm Fourfront files draft IPO papers with BSE

New Delhi, Jul 2 (PTI) Automotive solutions provider Fourfront on Wednesday said it has filed preliminary papers with BSE's SME platform to mobilise funds through an initial share sale.
     The initial public offering is entirely a fresh issue of up to 65 lakh fresh equity shares with a face value of Rs 10 each with no offer-for-sale component. The shares of the Pune-based company will be listed on the BSE's SME platform, the company said in a statement.
     Proceeds from the fresh issue will be used towards part-financing for establishing a new manufacturing facility in Pune, funding incremental working capital requirements and investment in its wholly-owned subsidiary Fourfront Green Innovations.
     The funds will also be used towards general corporate purposes.
     Incorporated in 2007, Fourfront is a Tier 1 supplier of customised electro-mechanical and electronic solutions to leading original equipment manufacturers in the automotive industry, with a strategic focus on the electric vehicle segment.
     It designs and manufactures a broad range of automotive electromechanical and electronics products, including switches, USB chargers, and rear-view cameras.
     For the period ended December 31, 2024, Fourfront reported a revenue of Rs 70.81 crore and a profit of Rs 9.52 crore.
     Beeline Capital Advisors is the sole book-running lead manager, and MUFG Intime India is the registrar for the IPO.

(This story has not been edited by THE WEEK and is auto-generated from PTI)