Milestone Gears Limited has filed its DRHP with SEBI to raise up to ₹1,100 crore through an initial public offering, marking a significant milestone for the high-precision transmission component maker. The IPO will include a fresh issue of ₹800 crore and a ₹300-crore OFS from existing investors.
The company plans to channel a large part of the proceeds into debt repayment and the establishment of a new manufacturing facility at Mohal Bated in Himachal Pradesh, which will expand its capacity and support future product development. Remaining funds will be used for general corporate purposes.
Milestone Gears operates in a diverse set of industries, supplying gears, shafts, axles, bevel components and other engineered parts to OEMs in tractors, EVs, locomotives, construction machinery and wind energy. From April 2022 to June 2025, the company supplied to more than 50 OEMs, securing a 100% presence among India’s top tractor manufacturers.
With advanced machinery, fungible production setups and a strong technology focus, the company positions itself as a long-term partner to OEMs both in India and abroad.
The IPO will be listed on BSE and NSE, with JM Financial, Axis Capital and Motilal Oswal as book-running lead managers.
