Funds that are gained through the IPO will be used to build a new factory as well as for the purchase of new machinery. Currently, the company already owns three factories: two in Pulo Gadung (East Jakarta) and one in Karawang (West Java). The new factory, expected to be operational by the end of 2014, will also be located in Karawang.

Grand Kartech manufactures various sorts of boilers (including packaged boilers, coal boilers, and biomass boilers), oil and gas processing equipment, power generators, and provides after sales services for steam generators, heat exchangers, piping, and more.

Companies that act as underwriters for the offering are Andalan Artha Advisindo Sekuritas and Investindo Nusantara Sekuritas. The listed company code of Grand Tech on the Indonesia Stock Exchange is KRAH.

Visit Grand Kartech's official website
See the list of companies that conducted IPO's on the Indonesia Stock Exchange in 2013