The automated parking systems are still not fully developed in India. India is still using the traditional systems, which sometimes create issues. Automated parking systems managed by robots are not a new concept in India, but they are still not fully explored in the country. Sotefin Bharat took the responsibility of creating an automated parking system.
Sotefin Bharta is the Indian arm of the company Sotefin SA, and this company is planning to raise 80 crore by launching an IPO. This thing is going to be a part of Make in India projects in West Bengal and is going to be invested in for an automated parking system and for creating some factories. Let’s see how Sotefin Bharat plans the ₹80 crore IPO.
What is Sotefin SA?
The Sotefin SA company started working in 1958 and is based in Switzerland. It’s an engineering company that is known for providing automated parking systems all over the world, and now it’s working for India. The company has already built many automated parking systems in different places around the world, and many of them are still in use. They have already worked with more than 30 countries and made more than 40,000 spots. The systems made by Sotefin SA are used in different places, such as residential areas, shopping malls, hotels, and public infrastructure projects. The Sotefin Bharat Plans ₹80 Crore IPO is planned by the Indian Sotefin.
The reason behind Sotefin Bharat plans ₹80 Crore IPO
The company is aiming to collect 80 crore, and they are going to use it in two ways. The automatic parking system will need a lot of AI-based gadgets and robotics, so the making of this part work will be done in under 40 crores. All this making will take place in the factory of Bangan, where other robotic stuff gets created in West Bengal.
The other 40 crores are going to be invested in paying off debts, improving infrastructure and building factories. This investment will help them in taking on bigger projects in the future and will help in making something useful. Sotefin Bharat plan ₹80 crore IPO is not fully for the automated parking system, but the main aim is to create the first east-west Bengal automated parking system.
Why is Sotefin Bharat ₹80 Crore important?
If we analyse the current scenario around Sotefin Bharat, you will see that they usually import parts from other countries, but with the help of these factories, all can be made in India. This will save a lot of money, which gets invested in imports, and the money of the place will stay in its place. More than 100 jobs for people are going to be open after the new factories start working in West Bengal.
Both investments are going to be a part of Make in India, because in the end, the results of it are only going to benefit India and its people. The automated parking system is good to start a revolution, and also to test how this will work in India if the government tries to make it compulsory in every parking space.
Why is it big news for West Bengal?
The cities are growing, becoming modern, and nowadays people like to own more than one car. As more cars are going to increase in cities, the greater the need for smart parking will be. Smart parking makes managing parking areas, saves space and time and is the right use of technology. This type of creation is not fully done in any other part of India, and it’s the first time for West Bengal to be part of something like this. This creation is going to solve a lot of parking-related issues for them.
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Future production plans and growth
Sotefin Bharat plans ₹80 crore IPO not only for the parking systems but also for creating factories, so the benefit is going to be from both sides. After this whole creation is done, more parking systems for more than 10,0000 cars will start getting created. 25 parking projects every year can be completed very smoothly in different parts of India. The idea is to make a place better and more useful for the people who are living there. This investment is only going to be beneficial for the Make in India project and for the people of West Bengal because, after this, they will get better job opportunities.
FAQ:
Who owns Sotefin Bharat?
Jignesh Sanghvi and Arup Chaudhuri
What things are going to be made in the new factories in West Bengal?
The factories will mainly create the equipment for automated parking systems.
When will the IPO go live?
The IPO is expected to go live after the full SEBI approval, and this can happen within one month.
