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Lohum aims to raise $100 million in its series C round and another $100 million in pre-IPO placement, Verma said, adding that the formal fund-raising process will begin in the next couple of months.
Lohum, which started in 2018, has raised about $100 million in previous rounds with participation from Singularity Growth and Baring Private Equity among other investors, said Verma who owns more than 40% of the company.
Lohum is targeting a capital expenditure of $200-300 million to support its capacity expansion over the next two years, which would involve tripling lithium production capacity, quadrupling nickel capacity, and setting up a greenfield cathode active material project, said Verma whose firm caters to both domestic and overseas customers.
Lohum is currently clocking a revenue run rate of about ₹1,000 crore, which it aims to raise to ₹4,000 crore by 2027, Verma said. The annualised revenue run rate is the latest monthly revenue multiplied by 12. The company is maintaining an operating profit margin of 15%, he said.
Lohum currently operates a refining facility in Greater Noida with capabilities to produce 1,000 metric tonnes per annum of battery-grade lithium. It’s expanding its facilities to other parts of the country, including Gujarat and south India. Lohum is also setting up lithium battery recycling facilities in the UAE and the US.
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https://economictimes.indiatimes.com/markets/ipos/fpos/lohum-plans-to-raise-200-million-ahead-of-ipo/articleshow/118771793.cms
