Microtek Launches New Inverter and UPS Series; IPO Coming In September, 2022
Microtek launched its new range of inverters and home UPS series on Monday at an event in Delhi. The event was company’s first physical event in two years and distributors from all across the country were invited to witness the new product line-up. The company’s focus for this new line-up has been on high quality and advanced technology features to provide enhanced savings and power output.
"The new ranges of products being launched today besides providing electricity saving benefits are also aesthetically appealing. We as a company is focused on continuous research and development (R&D) work so that we can introduce market-leading products. If industry and the government are in sync, India can meet its energy efficiency and climate change targets," said Subodh Gupta, Chairman & Managing Director, Microtek International.
Some of the products launched include the new LUXE LCD Home UPS series. This UPS range comes with an in-built microcomputer and a smart LCD display that shows the running load status, backup time status and battery charging time. The company also announced the launch of its imerlyn premium UPS series which has heavy load handling capacity with a 5-stage battery charging mechanism, keeping the battery healthy and providing longer battery life. The product offers high voltage surge protection, re-settable circuit breaker, high and standard charging option for quick battery charging and high peak current handling and thermal protection apart from other features.
In an interaction with BW Businessworld, Gupta informed about Microtek’s upcoming Initial Public Offering (IPO) in September, 2022. He stated, “Microtek has a big responsibility in the country. We are socially responsible and we are committed to make India truly atmanirbhar. In this direction we decided that if we want to implement projects on a big scale to export our products in the international market, we would require money for which banks are not a very reliable source considering the volatility in the market. Through our IPO in September, 2022, we are looking to use public money to fund these big projects and contribute in nation’s development.”
Gupta also shared his demand outlook for the renewable energy sector. “Coal reserves are vital resources for any country. In India, we use it because of our heavy dependence on it for electricity generation. The government has initiated several solar, hydel and wind energy projects and such projects will get a boost in the coming year because of our commitments at COP26. I believe that in the next ten years if our population sees a negative growth, then by 2035, India will be able to meet more than 50% of its electricity needs from renewable sources of energy,” Gupta said.
Microtek has forayed into the solar sector as well with products ranging from Solar PV Modules, Solar Management Units, Solar Power Conditioning Units and Grid-Tied Solar Solutions.
With the new product launch, the company expects to capture an additional 10 per cent market share of the Indian inverter and UPS market.
