Ace Designers Plans IPO to Raise $400 Million

Ace Designers Ltd. has entered early-stage discussions with investment banks to launch an initial public offering in Mumbai. The Bengaluru-based manufacturer of industrial machinery and CNC turning and machining centers aims to raise up to $400 million through a mix of new share issuances and sales by existing shareholders.

The company has invited pitches from banks and is expected to appoint advisers shortly. This potential public listing follows a 12 billion rupee investment from Kotak Alternate Asset Managers Ltd. last year, which funded the construction of a new manufacturing facility and the expansion of the company's product portfolio and international presence.

For the fiscal year ending March 2026, the company reported annual revenue exceeding 28 billion rupees.