Precision components manufacturer Milestone Gears Ltd submitted preliminary documents to the Securities and Exchange Board of India (SEBI) on Tuesday, intending to raise ₹1,100 crore through an initial public offering (IPO).
The inaugural public offering includes a fresh issue of shares up to ₹800 crore, along with an offer for sale (OFS) of shares worth ₹300 crore by promoters and existing shareholders, as noted in the Draft Red Herring Prospectus (DRHP).
Additionally, the company may explore a pre-IPO placement of up to ₹160 crore; if this placement occurs, the amount raised will be deducted from the fresh issue proceeds.
From the fresh issue capital, Milestone Gears plans to allocate ₹356.86 crore for debt repayment and ₹296.42 crore for a new greenfield project. A portion of the funds will also be designated for general corporate purposes.
Milestone Gears specializes in the manufacture of high-precision, complex engineered transmission components utilized across various sectors, including agriculture, construction machinery, electric vehicles (EVs), locomotives, wind power, and other heavy industries.
The company supplies its products to both domestic and international original equipment manufacturers (OEMs) and their affiliates. Since April 2022, Milestone has serviced over 50 customers, including all nine leading OEMs in India’s tractor sector.
To manage the IPO process, Milestone Gears has appointed JM Financial, Axis Capital, and Motilal Oswal Investment Advisors as the book-running lead managers.
The information was published on November 18, 2025.
