Pioneer Fil-Med Limited, a manufacturer of railway and industrial components, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The move marks the company’s entry into the public markets as it looks to expand its manufacturing capabilities and strengthen its growth trajectory.

As per the DRHP filed on March 29, 2026,, the Pioneer Fil-Med IPO will be a book-building issue aggregating up to ₹500 crore, comprising a fresh issue of equity shares worth ₹250 crore and an offer for sale (OFS) of ₹250 crore by existing shareholders. Promoters and investors, including Pioneer Facor IT Infradevelopers and Aztech India, will sell a portion of their holdings through the OFS.

Pioneer Fil-Med Limited operates in the manufacturing of components used in railway propulsion and control systems, catering to segments such as railways, automotive, and industrial applications.

Pioneer Fil-Med IPO - Issue Details

Issue Type: Book-built issue (Fresh Issue + OFS).
Total Issue Size: Up to ₹500 crore.
Fresh Issue: ₹250 crore.
Offer for Sale (OFS): ₹250 crore by existing shareholders.
Face Value: ₹10 per equity share.
Proposed Listing: The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE. The price band and bid lot will be decided in consultation with the book-running lead manager(s).
Book Running Lead Managers: Nuvama Wealth Management Limited and Equirus Capital Private Limited.
Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited).

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Utilisation of Offer Proceeds

The Company proposes to utilise the net proceeds from the fresh issue towards:

Part financing the cost of establishing a gear box manufacturing facility at Salarpur, Bhiwadi, Rajasthan, India (“Gear Box Facility”).
Part financing the cost of establishing a wind generator components manufacturing facility at Salarpur, Bhiwadi, Rajasthan, India (“Wind Generator Components Manufacturing Facility”).
General corporate purposes.

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About Pioneer Fil-Med Limited

Pioneer Fil-Med Limited is a New Delhi-based company incorporated in 1997, engaged in the design and manufacturing of high-performance components used in railway propulsion systems and industrial applications. Its product portfolio includes traction motors, alternators, converters, and filter products used across railways, automotive, and defense sectors.

The company has established manufacturing facilities in India and focuses on delivering energy-efficient and high-performance components for modern rail and mobility systems. It caters to both domestic and industrial clients and operates in sectors benefiting from increased investment in railway infrastructure and mobility solutions.

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