Milestone Gears Limited, a manufacturer of precision-engineered transmission components catering to sectors such as tractors, construction equipment, EVs, locomotives, windmills and other heavy industries, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) worth up to ₹1,100 crore.
The proposed IPO includes a fresh issue of shares valued at up to ₹800 crore and an offer for sale (OFS) of up to ₹300 crore by existing shareholders.
The company intends to use the net proceeds for repayment of outstanding borrowings, setting up a new manufacturing facility in Baddi, Himachal Pradesh, and general corporate purposes.
Milestone Gears supplies transmission components to leading Indian and global OEMs, including all nine top tractor manufacturers in India, and has served over 50 clients between April 2022 and June 2025.
The company’s equity shares are proposed to be listed on BSE and NSE, with JM Financial, Axis Capital and Motilal Oswal Investment Advisors acting as the book-running lead managers.
