Storage Technologies & Automation Ltd IPO

About Storage Technologies & Automation Ltd

Storage Technologies and Automation Limited was originally incorporated as Company Limited by Shares under the name Storage Technologies and Automation Private Limited under the provisions of the Companies Act, 1956 and the Certificate of Incorporation was issued by Registrar of Companies, Bangalore on March 19, 2010, vide certificate of incorporation bearing CIN U74900KA2010PTC052918 issue by Central Registration Centre, Assistant Registrar of Companies, Karnataka. Subsequently, the Company was converted into a public limited company vide special resolution passed by the shareholders at the Extra Ordinary General Meeting held on August 31, 2023 and consequently the name of the Company was changed from Storage Technologies and Automation Private Limited to Storage Technologies and Automation Limited vide fresh Certificate of Incorporation granted to the Company consequent upon conversion into public limited company dated October 12, 2023 by the Registrar of Companies, Bangalore bearing Corporate Identification Number U74900KA2010PLC052918.

The global industrial racking systems market stood at ~US$ 9 billion in 2018 and grew with 6.7% CAGR to reach US$ 12.5 billion in 2023. India holds about 4.4% of this market and stands at US$ 545.6 million in 2023. The Middle East & Africa region holds 5.5% of the overall market with a market size of US$ 680.1 million in 2023. Thus, the India and Middle East & Africa (MEA) industrial racking systems market is evaluated to stand at US$ 1,225.5 million in 2023 and projected to grow with significant CAGR of 8.5% during the forecast period. The market will reach US$ 2,768.9 million by the end of 2033. Booming e-commerce sector in this region is one of the key driving factor for this impressive market growth. India holds around 45% of the overall market and expected to show high growth for industrial racking systems in coming decade. According to the data, the number of warehouses in India is anticipated to double by the end of this decade. This will bring significant prospers to the demand for industrial racking systems in the country. During the historical period of 2018 to 2022, the market witnessed significant variations in the growth rate due to the impact of COVID-19 on the global economy. The industrial racking systems market witnessed a Y-o-Y fall of 9% in 2020 due to the shutdown in industries, disruptions in supply chains and uncertain demand from the end-use sectors. However, in 2021, the demand for industrial racking systems gained momentum showing strong recovery in post-covid market.

Storage Technologies & Automation Limited was incorporated in the year 2010 and is engaged in a storage racking system. The Company specialises in design, manufacturing, installation services of metal storage racks, automated warehouses and other storage solutions. its range of products and services demonstrates their commitment to providing innovative, efficient solutions for diverse warehousing needs, catering to a wide range of industries each with its own specific storage and logistical requirements, which includes oil & gas, automotive components & aerospace, food & beverages and cold storage, pharmaceutical, textile, retail, FMCG and others.

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