India, Dec. 10 -- Ratnaveer Precision Engineering Ltd on Tuesday said it has mobilised Rs 185.50 crore through a qualified institutional placement (QIP), strengthening its capital position as it gears up for its next growth phase.
The company issued 1.28 crore equity shares at Rs 145 per share to institutional investors including Arven, Vintage, PCC-Elite Capital Fund and Beacon Stone I.
With the fresh infusion, Ratnaveer plans to progress its acquisition of European precision engineering firms with established expertise in machining for the automotive, aerospace and defence sectors.
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