BAJAJ BROKING
Coromandel International increases its stake in Dhaksha Unmanned Systems to 58% by investing ₹150 crore. Dhaksha, a key player in India's drone industry, has a current order book of ₹265 crore and aims to strengthen R&D and production.
Coromandel International Limited has disclosed its acquisition of an additional 7% stake in Chennai-based drone manufacturing firm Dhaksha Unmanned Systems. This investment, totalling ₹150 crore, aims to improve Dhaksha's operational capacities and support its expansion plans.
Additional Read: Coromandel Interntl. Ltd Share Price
The investment is directed towards enhancing Dhaksha's research and development endeavours, facilitating the fulfilment of large orders, and meeting the company's working capital requirements.
This move is aligned with Coromandel's strategic vision of diversifying into technology sectors and fostering technological advancements across various domains.
Coromandel International has been a long-standing supporter of Dhaksha, actively engaged since its early startup phase. The partnership has seen collaborative efforts in talent acquisition, research and development initiatives, and scaling up production capabilities.
By increasing its stake, Coromandel aims to further fortify this mutually beneficial relationship.
Additional Read: Coromandel International Initiates ₹1000 Cr Project in Andhra Pradesh
Established in 2019, Dhaksha specialises in providing comprehensive Unmanned Aerial Systems (UAS) technology solutions spanning agriculture, defence, surveillance, and enterprise applications.
The company has witnessed substantial growth, securing significant orders from the defence and agricultural input sectors. Its current order book stands at an impressive ₹265 crore.
Dhaksha's recent expansion includes the establishment of a state-of-the-art manufacturing facility on the outskirts of Chennai. This facility is poised to augment production capacities, enabling Dhaksha to meet the growing demand for its drone solutions effectively.
Sources:
https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/coromandel-to-acquire-additional-7-pc-stake-in-dhaksha-invest-rs-150-crore/articleshow/110091281.cms?from=mdr
https://www.business-standard.com/markets/capital-market-news/coromandel-international-acquires-further-7-stake-in-dhaksha-unmanned-systems-124051301235_1.html
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Gold Price in India | Gold Rises 1% to $2,719 Ahead of U.S. PPI Data
12 Dec, 2024 | 39 Min. read
Indian Overseas Bank Receives ₹808.3 Crore Income Tax Refund
12 Dec, 2024 | 2 Min. read
Shakti Pumps Secures ₹754.3 Crore Solar Water Pump Order in Maharashtra
12 Dec, 2024 | 2 Min. read
Coca-Cola Sells 40% Stake in Bottling Arm to Jubilant Bhartia Group
12 Dec, 2024 | 2 Min. read
Vedanta to Consider Fourth Interim Dividend on December 16
12 Dec, 2024 | 2 Min. read
Share Market Today | Flat to Positive Start Expected for Indian Markets Amid Global Cues
12 Dec, 2024 | 4 Min. read
Securities Transaction Tax: Meaning & Charges
12 Dec, 2024 | 7 Min. read
International Gemological Institute India IPO Issue Date & Pricing
12 Dec, 2024 | 4 Min. read
How to Apply for International Gemological Institute India IPO?
12 Dec, 2024 | 3 Min. read
Robo Trading: Meaning, Examples, Features & Types
12 Dec, 2024 | 6 Min. read
India’s Leading Infrastructure Stocks for 2024
12 Dec, 2024 | 6 Min. read
India’s Leading Government Stocks in 2024
12 Dec, 2024 | 6 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading