Railway components manufacturer Pioneer Fil-Med Ltd. has applied for an initial public offering to sell shares worth up to Rs 500 crore. The IPO consists of a fresh issue of Rs 250 crore and offer for sale of Rs 250 crore.
Promoter group entities Aztech India Pvt. and Pioneer Facor IT Infradevelopers Pvt. will offload equity via the OFS, according to the draft red herring prospectus.
The details regarding price band, IPO period and equity allocation will be announced after the IPO receives approval from the market regulator SEBI. After the IPO, the stock will be listed on the BSE and NSE.
The company will deploy Rs 102 crore from the fresh issue for partly financing the cost of establishing a gear box manufacturing facility and Rs 79.5 crore for a wind generator components manufacturing facility at Salarpur, Bhiwadi in Rajasthan. The rest will be used for general corporate purposes.
Pioneer Fil-Med is an established manufacturer and supplier of railway and metro equipments, and allied components for the locomotive and coach applications segment in India, with a strong presence across both diesel-electric and electric platforms. It commenced operations in 2001 with the manufacture and supply of filters for railway and automotive applications and have since diversified into the manufacture and supply of traction motors, alternators, brake discs, gangways, stators and rotors for locomotives, platform screen doors for metros, wind generators and allied services.
The company's outstanding order book as of Sept. 30, 2025 is Rs 442 crore, of which 91% is for railways and metro and the rest for wind generators. It has manufacturing facilities at Bawal and Manesar in Haryana.
Pioneer Fil-Med reported a consolidated revenue of Rs 326 crore in financial year 2025 and a net profit of Rs 40 crore.
Nuvama Wealth Management Ltd. and Equirus Capital Pvt. are the merchant bankers to the deal.
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