Milestone Gears Ltd. IPO Details
Milestone Gears was incorporated on April 27, 1984. They manufacture high-precision, complex engineered transmission components used across tractors, construction equipment, EVs, locomotives, windmills, and other heavy industries. With end-to-end manufacturing capabilities and strong OEM relationships, they serve 50+ customers, including India’s top tractor OEMs, positioning themselves as a one-stop provider for a wide range of transmission components
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹11,000.0 M | DRHP DOC |
Milestone Gears issue details
Milestone Gears IPO issue size is ₹ 11,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Milestone Gears IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Milestone Gears NUMBER OF SHARES ON OFFER
Milestone Gears FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 168.0 | 9.4 | 8.6 | 1.1 | 18.9% |
| FY25 | 530.2 | 22.1 | 32.1 | -19.1 | 18.2% |
| FY24 | 533.3 | 6.7 | 80.0 | 35.9 | 13.2% |
| FY23 | 612.9 | 14.1 | 28.6 | -41.3 | 12.5% |
Milestone Gears INFORMATION ON IPO ISSUE
About Milestone Gears
Milestone Gears was incorporated on April 27, 1984. They manufacture high-precision, complex engineered transmission components used across tractors, construction equipment, EVs, locomotives, windmills, and other heavy industries. With end-to-end manufacturing capabilities and strong OEM relationships, they serve 50+ customers, including India’s top tractor OEMs, positioning themselves as a one-stop provider for a wide range of transmission components
Object of the Issue
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by the company
- Financing the capital expenditure requirements in relation to setting up of a new manufacturing facility at District Solan, Himachal Pradesh
- General corporate purposes
Milestone Gears - PROMOTERS
| Name |
|---|
| Ashok Kumar Tandon |
| Aman Tandon |
Milestone Gears - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ashok Kumar Tandon | Chairman & Executive Director |
| Aman Tandon | Managing Director |
| Biresh Kumar Thakur | Executive Director & Chief Executive Officer |
| Neha | Independent Director |
| Vivek Prakash | Independent Director |
| Yudhisthir Lal Madan | Independent Director |
Milestone Gears Book Running Lead Manager
JM Financial Limited
Milestonegears.ipo@jmfl.com
Axis Capital Limited
Milestonegears.ipo@axiscap.in
Motilal Oswal Investment Advisors Limited
mgl.ipo@motilaloswal.com
Milestone Gears Registrar to the Offer
KFin Technologies Limited
milestone.ipo@kfintech.com
Milestone Gears Strengths
Diversified product portfolio
They are a long-established manufacturer of high-precision, complex engineered transmission components with a strong and diverse product portfolio. Since beginning operations in 1984, they have expanded from machining bull gears and rear axle shafts to producing advanced components for tractors, construction equipment, EVs, locomotives, windmills, and other heavy industries
High-quality, intricate & critical products
The company invests heavily in advanced machinery and engineering expertise to deliver high-precision, cost-effective components that meet strict industry requirements. Its adoption of new technologies has enabled a diverse portfolio of 700+ active parts, including several single-source components trusted exclusively by customers
In-house manufacturing operations
The company operates nine manufacturing facilities across Punjab, Haryana, and Himachal Pradesh, strategically located near major OEM customers to reduce logistics time and cost. With most plants in Himachal Pradesh, the company benefits from reliable hydel power, ensuring operational efficiency, supply chain resilience, and a low-carbon footprint
Milestone Gears Risks
Working capital intensive
The company requires substantial working capital to fund raw material purchases and manufacturing before customer payments are received. Any inability to secure adequate working capital, especially as order volumes grow or payment terms extend, may negatively impact its operations, financial condition, and cash flows
Counterparty credit risks
The company faces counterparty credit risk as it extends credit to customers, and delays or defaults in payments can increase receivables. Such non-receipt or late receipt of dues may adversely affect its business, financial performance, and cash flows
Hazardous risks
The company’s operations involve inherently hazardous processes, and a past fatal incident highlights these risks. Such accidents can lead to operational shutdowns, liabilities, and potential damage to personnel, property, or the environment, adversely impacting business and financial performance
IPO FAQs
The promoters of the company are Ashok Kumar Tandon and Aman Tandon.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.