Aegis Investment Fund PCC Niveza Invests Rs 25 Crores in Sealmatic India at Rs 636 Per Share
Aegis Investment Fund PCC Niveza Invests Rs 25 Crores in Sealmatic India at Rs 636 Per Share |
| [25-November-2024] |
MUMBAI, India, Nov. 25, 2024 /PRNewswire/ -- Sealmatic India Ltd, listed on the Bombay Stock Exchange (BSE: 543782) is pleased to inform that Aegis Investment Fund PCC Niveza has announced an investment of Rs 25 crores into the company. The preferential allotment involves the issuance of 3,93,000 equity shares at a price of Rs 636 per share, inclusive of a premium of Rs 626 per share.
For Sealmatic, this investment is poised to empower the company to accelerate its strategic goals, including the establishment of strategic business units in key regions such as Middle East, Europe and the United States of America. Additionally, the funds will facilitate targeted investments in high growth API markets mainly in India & Middle East and drive the development of advanced mechanical seals for defense and nuclear applications, which includes stern tube seals, primary reactor seals and API 682 4th Edition. These initiatives are pivotal for Sealmatic to strengthen its global footprint and also to compete effectively in international markets and other key areas of competence, which will result in long term sustainable growth and profits for the company. Mr Sanal Kumar of Aegis Investment Fund PCC Niveza says,"Sealmatic represents a perfect collaboration of innovation and reliability. We firmly believe in its long-term potential to redefine the sealing industry with its advanced solutions and focused approach. This investment is a result to our commitment to boost the transformative businesses with strategic support. Our long-term investment with Sealmatic aims to enable the company to take strategic direction and explore the global opportunities in sectors like oil & gas, refinery, petrochemical, defense, nuclear energy etc., thus delivering value to stakeholders." Mr Umar AK Balwa, Managing Director of Sealmatic says,"The capital raised will be invested in expanding market and service/product capabilities in Middle East, USA & Europe, which are expected to grow exponentially over the next 5 years, driven by the adoption of new technologies in the field of mechanical seals for critical API, Defense and Nuclear applications. Sealmatic, which already has a presence in the above sectors and regions, will invest in the value chain to become a dominant player, providing expanded products and services to oil & gas, refineries, petrochemical, defense, nuclear and other critical industries. We are excited to have Aegis Investment Fund PCC Niveza onboard and the investment from them will support the company's strategic expansion and growth initiatives into key industry verticals, with relevant technology solutions, including key leadership hiring and significantly expanding its sales and business development efforts in Middle East, Europe, North America and other emerging markets." About Sealmatic Sealmatic designs and manufactures mechanical seals and associated products mainly for the oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and many more industrial applications. With a wide range of products and services, Sealmatic has solutions for every sealing requirement — such as Pusher Seals, Standard Cartridge Seals, Elastomer Bellows Seals, Metal Bellows Seals, Engineered Seals, Split Seals, Gas-Lubricated Seals and many more. For more information please visit: www.sealmaticindia.com Logo: https://mma.prnewswire.com/media/2566565/Sealmatic_Logo.jpg
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Company Codes: Bombay:543782, Bombay:SEALMATIC.BO |
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