India, Nov. 10 -- Rossell Techsys Limited, a leading provider of high-reliability engineering and manufacturing solutions for the aerospace and defence sector, has announced that its Board of Directors has approved a fundraise of up to Rs 300 crore.
The company plans to raise the capital through the issuance and allotment of fully paid-up equity shares and/or other eligible securities, including a Qualified Institutions Placement (QIP), in accordance with applicable laws.
The proceeds from the issue will be utilised for capital expenditure, working capital requirements, general corporate purposes, and other permitted uses.
Commenting on the development, Rishab Gupta, Managing Director, Rossell Techsys, said:
"This capital infusion will ...