Rossell Techsys Ltd, a key player in the aerospace and defense sector, has approved a fundraise of up to ₹3 billion (300 crores) to support capital expenditures, working capital, and corporate purposes. This strategic capital infusion aims to bolster their innovation capabilities and expand operational capacity.
Rossell Techsys Ltd recently announced board approval to raise up to ₹3 billion through equity shares and convertible securities via qualified institutional placements, preferential allotments, rights issues, or public offerings. The proposed fundraise will enhance their financial strength to meet growing demand in aerospace manufacturing and defense sectors.
The Bengaluru-based company, supplying critical components including engine wiring harnesses and cockpit panels to customers like Boeing and Lockheed Martin, aims to enhance infrastructure, scale production, and invest in technological advancements. This comes as Rossell Techsys targets expanding its share in defense aircraft manufacturing and increasing workforce strength significantly.
The company expects shareholder approval via postal ballot for the fundraising plan. With purchase orders currently worth ₹8 billion and strategic partnerships valued at ₹28 billion, this capital raise is well-positioned to drive sustainable growth and strengthen Rossell Techsys' leadership in the aerospace and defense industry.
Key Highlights
-
Board approved fundraise up to ₹3 billion to support capital and working capital needs.
-
Fundraising instruments include equity shares and convertible securities through multiple routes.
-
Rossell Techsys supplies key aerospace components to global giants like Boeing and Lockheed Martin.
-
Current purchase orders total ₹8 billion; strategic partnerships worth ₹28 billion.
-
Shareholder approval sought via postal ballot; company focuses on growth and expansion.
Sources: The Globe and Mail, ScanX Trade, Reuters