Milestone Gears IPO

Incorporated in 1984, Milestone Gears Limited is engaged in the manufacturing of high-precision, complex engineered transmission components used across multiple sectors such as tractors, construction equipment, electric vehicles (EVs), locomotives, windmills and other heavy industries. The company supplies transmission components to Indian and global original equipment manufacturers (OEMs) and their affiliated entities. It has maintained long-standing customer relationships, with an average association of more than 18 years with its top 10 customers based on Fiscal 2025 revenue. Milestone Gears Limited manufactures products such as bull gears, rear axles, spindles, internal ring gears and bevel gears, serving sectors including agriculture, construction equipment, EVs, locomotives and wind energy. The company continues to diversify its product portfolio to expand its addressable market. The company has exported products to ten countries, including the United States, the United Kingdom, Turkey, Germany, Belgium, Italy, Brazil, China, Hungary and Malaysia, during the period from April 1, 2022 to June 30, 2025. Milestone Gears Limited operates nine manufacturing facilities located in Punjab, Haryana and Himachal Pradesh, with a combined built-up area of over 398,000 square feet on a total land area exceeding 700,000 square feet. As of June 30, 2025, the company employed 1,417 permanent employees and 2,038 contractual employees.

Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by the Company; Financing the capital expenditure requirements in relation to setting up of a new manufacturing facility at Mohal Bated, Tehsil Baddi, District Solan, Himachal Pradesh (the “Proposed Greenfield Project”); and General corporate purposes.