Fox Petroleum Group has announced a proposed investment of USD 50 million in Danube Industries Limited to support its expansion, technology development, and business growth plans. The strategic partnership will see Fox Petroleum Group join the Ahmedabad-based company as a growth partner, with the investment aimed at transforming the entity into a technology-focused enterprise.

Under the proposed arrangement, the total investment of USD 50 million will be made in two tranches of USD 25 million each, subject to the completion of corporate approvals and regulatory requirements. The first tranche is designated for strengthening and expanding existing operations, while the second tranche will be utilised for strategic acquisitions aligned with the company's long-term growth strategy.

The collaboration will leverage the expertise of both organisations to focus on opportunities in artificial intelligence, advanced manufacturing, IT-enabled services, infrastructure, and energy-related technologies. As part of the transformation, the company plans to rename itself to Fox Danube Technologies Limited.

Sunil Rajdev, Founder and Chief Financial Officer of Danube Industries Limited, stated that the partnership marks a significant step in the company's next phase of growth. He highlighted that the investment would enable the scaling of existing operations and the building of capabilities in emerging technology sectors.

Dr. Ajay Kumar, Chairman and Managing Director of Fox Petroleum Group, expressed confidence in Danube Industries' growth strategy. He emphasized that the collaboration aims to build a technology-driven organisation with a strong presence across multiple sectors, contributing to skilled employment and economic growth.

Looking ahead, Danube Industries plans to unveil its AeroDefence Division on August 15, marking its entry into aerospace, defence, and advanced technology initiatives. The company is currently engaged in the trading, distribution, and engineering of IT hardware and electronics, with a growing focus on information technology and defence technologies.

Danube Industries appointed Ajay Kumar Jha as a Non-Executive, Non-Independent (Additional) Director effective June 9, 2026, subject to the approval of the company's members. The Board of Directors approved the appointment during its meeting held on June 9, 2026. Jha will serve in this capacity and is liable to retire by rotation.

The appointment follows the disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Jha is not disqualified under the circulars issued by BSE and NSE dated June 20, 2018. There are no reported relationships between Jha and the existing directors of the company.

Director Profile

Ajay Kumar Jha brings extensive experience to the role. He currently serves as the Chairman & Managing Director of Fox Capital & Investment Limited Group, overseeing operations in India and globally. Additionally, he holds the position of Chairman at the Fox Petroleum Group of Companies.

Appointment Details