Marshall Machines Ltd’s Rs. 45.63 crores Rights Issue to open on October 11, 2023

Rights Issue is priced at Rs. 44.8 per share; Rights Issue will close on October 19, 2023

Ludhiana (India), October 6: Ludhiana based leading CNC machines manufacturing company, Marshall Machines Ltd is planning to raise Rs. 45.63 crore from its rights issue. Company’s rights issue is scheduled to open on 11th October 2023 and priced at Rs. 44.8 per share. The funds raised through the issue will be utilized to meet the working capital requirements, repayment of loans, acquisition of technology and for general corporate purposes. Rights Issue will close on 19th October 2023.

The Company will issue 1,01,85,000 fully-paid equity shares of face value of Rs. 10 each at a price of Rs. 44.8 per rights share (including a premium of Rs. 34.8 per Equity Share) aggregating to Rs. 45.63 crore. The rights entitlement ratio for the proposed rights issue is 7:10; 7 rights equity shares of Rs. 10 each for every 10 equity shares of Rs. 10 each held by the eligible equity shareholders as on the record date – 29th September 2023.  

Mr. Gaurav Sarup, Managing Director of Marshall Machines Limited, “Company has taken important strategic initiatives in the recent past with a focus to expand production capacities, launching new products with best technology, adding more channel partners etc. Our long-term focus continues to be investing in growth through new product launch, expanding footprints. Proceeds of the issue will further strengthen company’s balance sheet and help fund its expansion plans and strategic growth initiatives.”

Incorporated in 1961, Marshall Machines Ltd was founded by Mr. Gautam Sarup. Company provides provides a wide range of smart IoT-enabled CNC solutions. Company manufacturers wide range of CNC Turning Centers including its Patented Double Spindle CNC Turning Centers. Company provides complete machining solutions to manufacturers of Axles, Crankshafts, Auto Parts, Fans, Pumps, Bearings, Gear Blanks, Bushes, etc. The company has deployed over 4,000 machines over 4 decades and has more than 1,500 clients across its two customer segments: Institutional and SMEs.

Company has recently imported technology from Europe to add to its competitive advantage in the domestic market. Company has set a target of offering their existing products infused with the new technologies as early as December this year and aims to launch 3 brand new products within this year.  Company also entered vertical machining segment and launched the complete range of vertical machining centres which are used for machining of prismatic parts.

Company has more than 300 committed team members across various functions. Company’s clientele is spread across numerous industries, including automobile, consumer durables & appliances, general engineering, and its customers include marquee names such as Hero Honda, Rockman, GNA, USHA, Havells, Amtek Auto etc. Company has carried out research in fields as diverse as Structural Engineering, Vibration Damping, Fluid Mechanics and Artificial Intelligence (AI). This research has led to the development of ‘Smart’ technologies like SmartCorrect, SmartInsert, SmartAct, SmartDamp, etc. Company has received 3 Patents till now and 12 more filed and pending

Mr. Prashant Sarup, JT Managing Director of Marshall Machines Limited stated, “We are expecting a substantial jump of 25% in the top line and about 15% in the bottom line with the launch of these new machines. This will enable us to compete with imported machines and enter more profitable market segments. We are going to Deliver High value products at extremely competitive prices”.

Company has recently announced the delivery of the record 800th machine for fan industry. Company produced the first machine for the fan industry in the year 1999 and has dominated the industry with more than 85% market share.

About Marshall Machines Limited

Marshall is a leader in smart, automated, robotic CNC Machines and Industry 4.0 technologies. The company is driven by R&D and Intellectual Property with several Patents in India and USA. Our customers include leading OEMS from various sectors including Auto, Auto Ancillaries, Consumer Durables, Engineering, Electronics, Steel, etc. Emerging sectors include Aerospace, Medical Equipment, etc. For the FY23 company has reported revenues of Rs. 37 crore.

Business News ET Ascent Emerging Leaders Conclave 2024 Lord's Mark Industries Lords Mark Microbiotech National PNN News Press Release Sachidanand Upadhyay Subodh Gupta

Lords Mark Industries Limited receives Economic Times Emerging Leaders Award at ET Ascent Emerging Leaders Conclave 2024

Mumbai (Maharashtra) [India], May 30:  Mr. Sachidanand Upadhyay, Managing Director of Lord’s Mark Industries Limited, a distinguished company known for its diverse portfolio, was honoured with Economic Times Emerging Leaders Award at ET Emerging Leaders Conclave 2024 that celebrates the accomplishments of outstanding individuals across various industries. The prestigious ceremony took place at the Ginger Hotel, […]

Read More
Business News Health PNN News Press Release

QSG Kit by Dr. Agravat: The Trailblazing Solution Helping People Quit Gutkha and Smoking across the Nation

Ahmedabad (Gujarat) [India], May 30: Dr. Bharat Agravat India’s most distinguished Dental implants Surgeon and first Dentopreneur has unveiled before the world its trailblazing and groundbreaking solution that is not only the first of its kind but also promises to rid people of the evil habit of Gutkha Chewing and smoking — the QSG KIT. Backed […]

Read More
Business Press Release

Eliminating Checkout Barriers: PayGlocal Teams Up with Shopify to Offer Inline Card Payments

Bengaluru (Karnataka) [India], May 30: PayGlocal, a leading payments platform from India has launched its latest product, ‘Xpress PayFlow’, in partnership with Shopify, providing inline card payments to Shopify merchants. With this solution, customers can now input their card details directly on the Shopify platform without being redirected to a third-party page, thus reducing drop-offs, […]

Read More