Shivam Autotech Unveils Ambitious ₹2.85 Billion Dual-Track Fundraising Plan: ₹1.25 Billion Rights Issue and ₹1.60 Billion QIP to Fuel Growth and Expansion

Shivam Autotech Limited has announced a comprehensive fundraising strategy, aiming to raise up to ₹2.85 billion through a combination of a rights issue and a Qualified Institutional Placement (QIP). The company plans to raise ₹1.25 billion via a rights issue and an additional ₹1.60 billion through a QIP.This significant capital infusion is expected to strengthen Shivam Autotech's financial position and support its expansion plans. The funds will likely be utilized for debt reduction, working capital requirements, and investments in new technologies and manufacturing capabilities.The move comes as the auto components sector faces challenges and opportunities in the evolving automotive landscape, particularly with the shift towards electric vehicles and stricter emission norms.

Source: Shivam Autotech Limited Regulatory Filings