Ace Designers started in 1979 as a design consultancy and today builds CNC turning and machining centers. The company's website shows revenue topping 28 billion rupees for the year through March 2026.
People who know the situation say Ace Designers has asked investment banks to submit proposals and is likely to select advisers in the near term. Those people requested not to be named because the process is private. A representative for the company didn't respond to requests for comment.
The proposed offering, still in the early stages, could raise up to $400 million and may combine newly issued shares with stock sold by existing shareholders. The final size, makeup, and timing remain subject to change, according to the people familiar.
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India's new-issue market has been busy. In September, 61 IPOs raised about $4.1 billion, with a deal from National Stock Exchange of India Ltd. coming in at roughly $2.4 billion - the nation's second-largest, behind Hyundai Motor India Ltd.'s $3.3 billion sale in October 2024. Separately, Kotak Alternate Asset Managers Ltd. put 12 billion rupees into Ace Designers last year to support a new factory and broaden both its product lineup and overseas footprint. If Ace joins the queue, it could add another sizable name to a market that's already humming - worth watching if you're comparing homegrown growth stories with opportunities elsewhere.
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