Rossell Techsys Aims High with Rs 300 Crore Fundraising Proposal

Rossell Techsys has announced plans to raise up to Rs 300 crore through various financial instruments, including Qualified Institutions Placement. The move aims to support growth, capability expansion, and strengthen the company's financial position, while focusing on long-term value creation for stakeholders.

Rossell Techsys, a leading aerospace and defence engineering solutions provider, has revealed plans to raise Rs 300 crore to fuel its upcoming growth phase. The company's Board of Directors has sanctioned a proposal to gather this capital through multiple instruments, most notably a Qualified Institutions Placement (QIP).

The firm is eyeing significant opportunities for expansion within its existing operations while also considering avenues for organic growth. The financial boost is anticipated to bolster Rossell Techsys' capabilities and enhance its standing in the market, as highlighted by Managing Director Rishab Gupta.

The generated funds will primarily address capital expenditures, working capital needs, and strengthen the company's financial health. The plan is set to undergo shareholder vetting via a postal ballot and e-voting, scheduled from November 4 to December 3.

(With inputs from agencies.)