NeST Group arm SFO Technologies plans IPO

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The Kochi-headquartered SFO Technologies, the flagship company of the NeST Group, is planning to go public in two years.

The three-decade-old Kerala-based NeST group, which operates from 25 locations worldwide, focusses on hardware manufacturing, software services, education, retail and food & beverages. They pioneered the first private SEZ in the country.

SFO Technologies, the largest exporter of electronics hardware in India, is planning to take the IPO route for expansion projects, N. Jehangir, Chairman and Managing Director, said.

With over 60-plus OEM customers and exporting to 56 countries, NeST has established itself as a ‘Kerala Brand’ among the leading OEMs across the world, he said.

Clocking Rs 2,500 crore in turnover in the last financial year, the company is on a 12 per cent year-on-year growth trajectory. The company has parked around Rs 800 crore for expansion plans in the next three years.

The group provides original design and manufacturing services ranging from R&D to hardware and software engineering and manufacturing, including sheet metal fabrication, plastic injection moulding, cable and wire-harness, relays, transformers, fibre optics, PCB assemblies, high-level assemblies, and test equipment & fixtures.

Recently, SFO Technologies provided nine and two RF packages to ISRO on its Chandrayaan and Aaditya missions, besides other space programmes. They have also developed a Fibre Optics Intrusion protection system for the Indian Defence sector, as well as 2/3KW Fiber Lasers required for Anti Drone applications.

Althaf Jehangir, CEO and Executive Director, said the company is poised to take on future challenges by progressing towards Industry 4.0 across its plants. 

The software arm, NeST Digital, taken up projects in E-Mobility, Next Generation Payment Solutions, Engineering Transformation and AI/ ML tools, said Nazneen Jehangir, CEO and Executive Director.   

It plans to set up its own technology park in the Bangalore-Mysore corridor, besides expanding to Tier-2 cities in Kerala and Tamil Nadu in the near future.