Aimtron Raises Rs 100 Cr for Gujarat Facility

New Delhi, Jul 15 (PTI) Electronics system design and manufacturing company Aimtron Electronics Ltd has raised about Rs 100 crore through the issue of convertible warrants on a preferential basis to set up a greenfield facility in Vadodara, Gujarat.

The round saw participation from the company's promoter group, including Mukesh Vasani and Nirmal Vasani, along with some other investors, according to a company statement.

"The Board of Directors of Aimtron Electronics has approved the issuance of up to 14,79,000 warrants of the company, at the price of Rs 666 per warrant each convertible into, for one fully paid-up equity share of the company of face value of Rs 10 at a premium of Rs 656 aggregating up to Rs 98,50,14,000 to the proposed allottees.

"Aimtron will use the funds to set up a new greenfield manufacturing facility, enabling Aimtron to scale its growing box-build projects and system-level, end-to-end integration business under one roof," the statement said.

Spread across three acres of land, the new plant is being set up adjacent to the company's existing operational unit in Waghodia (Gujarat Industrial Development Corporation).

It will feature up to five advanced Surface Mount Technology (SMT) lines and end-to-end assembly units.

Chicago-headquartered Aimtron Electronics provides EMS, PCB assembly, box-build, and design services to customers across the automotive, medtech, aerospace, industrial, power, gaming, IoT, and robotics sectors.

It has facilities in Vadodara, Ahmedabad, and Bengaluru. The company has over 200 employees in India.