Rajoo Engineers Ltd Secures Rs 160 Crore in QIP to Boost Expansion

Rajoo Engineers Ltd, a plastic extrusion machinery manufacturer, raised Rs 160 crore through a qualified institutional placement driven by high investor demand. The funds will support strategic acquisitions and growth, enhancing product offerings and market presence. Notable investors include Morgan Stanley Asia and HDFC Bank.

Plastic extrusion machinery manufacturer Rajoo Engineers Ltd has successfully raised Rs 160 crore through a qualified institutional placement (QIP) issue, illustrating strong interest from both domestic and international investors.

The noteworthy investors participating in this QIP include Morgan Stanley Asia (Singapore), HDFC Bank, and BNP Paribas Financial Markets - ODI, among others. The shares were issued at Rs 109 each, and the QIP issue concluded on July 21.

The fund raised aims to empower Rajoo Engineers by enhancing their operational scale and market footprint, with particular focus on strategic acquisitions. Following the QIP, Foreign Institutional Investor holdings rose to 3.8%, while domestic institutional holdings touched 4.46%.

(With inputs from agencies.)