Ratnaveer Raises Rs 185.5 Cr for Expansion

New Delhi, Dec 9 (PTI) Ratnaveer Precision Engineering Ltd on Tuesday announced that it has raised Rs 185.50 crore through a qualified institutional placement route, strengthening its capital base and supporting its next phase of expansion.

The company allotted 1.28 crore equity shares at Rs 145 each to institutional investors, including Arven, Vintage, PCC-Elite Capital Fund and Beacon Stone I, Ratnaveer Precision Engineering said in a statement.

The fresh capital will help Ratnaveer move forward with its plan to acquire European precision engineering companies, which have long-standing expertise in machining for automotive, aerospace and defense sectors.

These acquisitions are expected to enhance the company's international presence and create dual-shore manufacturing capabilities across India and Europe, the company said.

Ratnaveer Precision Engineering Managing Director & CFO Vijay Sanghvi said the QIP and upcoming acquisitions will strengthen Ratnaveer's ability to serve high-performance industries while supporting its focus on quality and innovation.

In the domestic market, Ratnaveer is expanding into electronics manufacturing as India's first fully integrated high-volume producer of Copper Clad Laminates (CCL) used in printed circuit boards, he added.