Gearing Up for Growth: RACL Board to Weigh Fundraising Options on April 10

RACL Geartech Limited has stated that its Board of Directors will meet on April 10, 2025, to consider a fundraising proposal meant to finance the company's strategic growth plans. This comes in the wake of the company previously deciding to allocate INR 1,500–1,750 million towards technology upgradation, backward integration, and growth projects proposed by its customers during the next three years.

 

The Board had already entrusted its Financial Affairs Committee with the mandate to investigate other sources of funding and advise on the most viable alternatives for raising INR 1,000 million. The money is likely to maximize the capital base of the company and foster sustainable growth. The next meeting will tie down plans to raise the capital necessary for these ambitious strategies.

 

RACL Geartech has continued to prove to be resilient and growing, registering significant revenue growths amidst international economic hardships. Its diversified base of customers and commitment to innovation have established it as a market leader in the automobile and industrial gear production industry.

 

This disclosure confirms RACL Geartech's intention to deepen its financial basis as it drives long-term strategic plans. Shareholders and stakeholders eagerly wait to receive an update on the April 10 meeting.

 

Sources: NSE Corporate Announcement, Marketscreener,  RACL Geartech Annual Report