Stelmec Successfully Secures Rs 175 Crore to Fuel Expansion And R&D

Power solutions provider Stelmec has successfully raised Rs 175 crore from a consortium led by Abakkus Four2Eight Opportunities Fund. The Mumbai-based company plans to utilize the funds to accelerate expansion plans, enhance research and development capabilities, and strengthen its market presence both domestically and internationally. Stelmec, known for its expertise in vacuum circuit breaker technology and EPC projects, aims to scale up its offerings of top-notch electrical solutions. The transaction was facilitated by Hem Securities, serving as the financial advisor for the fundraise. This investment is expected to drive growth and create value for stakeholders in the electrical power products sector.
Source: PTI