Its notable customers include Atlas Fibre LLC, Spaulding Composites Inc., Norplex Micarta, Attwater & Sons Limited and LMC Plastics
MUMBAI, July 15 (The CONNECT)- Industrial laminates maker Lamtuf Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) seeking to raise funds through an Initial Public Offering (IPO).
The IPO, with a face value of ₹5, is a mix of fresh issue of up to 1,00,00,000 equity shares and an offer-for-sale up to 7,50,000 equity shares by Surender Kumar Mehta and 12,50,000 by Kamlesh Mehta.
From the proceeds from the fresh issue, about Rs 60.43 crore will be used for funding the expansion of its existing manufacturing facility and Rs 34 crore for working capital and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the offer is assigned to non-institutional bidders and retail individual bidders respectively.
Lamtuf is a vertically integrated manufacturer engaged in the production and sale of industrial laminates, shuttering films and composite materials. Its operations encompass resin synthesis, impregnation, pressing, compression moulding, and finishing processes. It was established in 1978 and subsequently reorganized through various corporate restructurings; it operates under its current name since 2022.
The company’s product portfolio includes, paper phenolic laminates, cotton phenolic laminates, densified wood laminates, epoxy glass laminates, glass polyester composites and phenolic / epoxy rods and tubes and it is used as insulation materials for high-specification, performance-critical applications in various industries, including the distribution and power transformers, railways, automobiles, electrical switchgears, oil and gas, civil construction, steel rolling and defence industries.
It operates through a single manufacturing facility at Pashamylaram, Hyderabad, Telangana, with an annual installed capacity of 7,200 metric tons.
The Company’s domestic customer base spans to 21 Indian states and 4 Union Territories, where it cater to over 512 institutional and industrial clients and is a mix of public sector undertakings, multinational corporations, and original equipment manufacturers (OEMs). Its key domestic customers include High Volt Electricals Private Limited. Sabar Industries, Technical Associates Limited, Auto CNC and Bharat Bijlee.
It supplies its products to more than 23 customers in over 15 countries. Key export destinations include the United States, the United Kingdom, Germany, Czech Republic, Australia, South Africa, New Zealand, United Arab Emirates and several countries in the Middle East, etc
Its international clientele consists exclusively of industrial processors and distributors. Notable customers include Atlas Fibre LLC, Spaulding Composites Inc., Norplex Micarta, Attwater & Sons Limited and LMC Plastics. International sales constituted 45.83% of total revenue from operations for the fiscal year ended March 31, 2025.
Lamtuf Limited’s revenue from operations increased by 8.97% to ₹185.54 crore in Fiscal 2025 from ₹170.28 crore in Fiscal 2024, attributable to an increase in domestic sales of electrical distribution transformers, railway loco motive, oil distribution transformers and solar panel industries. Profit after tax increased by 10.24% to ₹21.83 crore in Fiscal 2025 compared to ₹19.80 crore in Fiscal 2024.
Unistone Capital Private Limited is the sole book-running lead manager and KFin Technologies Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
