Milestone Gears Limited, one of India’s prominent manufacturers of precision transmission components for tractors, heavy equipment and electric mobility applications, has filed its DRHP with SEBI as it prepares for a ₹1,100-crore initial public offering.
The offering includes a fresh issue of up to ₹800 crore, which will largely finance the company’s upcoming greenfield manufacturing project in Himachal Pradesh, aimed at increasing capacity and supporting its growing order book. An additional ₹300 crore OFS will allow existing shareholders to dilute their stakes.
The company’s components, including bull gears, transmission shafts, axles, bevel gears and induction-hardened shafts, are used by major OEMs in India and global markets. From April 2022 to June 2025, the company served over 50 customers, strengthening its position across multiple engineering and mobility sectors, including wind energy and locomotives.
Milestone Gears highlighted its technology-oriented approach, investing in advanced equipment to support evolving engineering specifications and maintain product consistency. The IPO will list on BSE and NSE, with JM Financial, Axis Capital and Motilal Oswal leading the issuance.
