Rossell Techsys Board Approves ₹300 Crore Capital Raising Plan

Rossell Techsys Limited , a prominent player in the technology sector, has announced a significant move to bolster its financial position. The company's Board of Directors has given the green light to a proposal aimed at raising capital up to ₹300 crores through various financial instruments.

Capital Raising Details

The Board's approval encompasses a diverse range of capital raising options, providing the company with flexibility in its fundraising approach. Here's a breakdown of the key aspects of the capital raising plan:

Aspect	Details
Maximum Amount	Up to ₹300 crores
Instruments	Equity shares and convertible securities
Methods	Qualified Institutions Placement (QIP), preferential allotment, rights issue, or public offering
Eligible Investors	As permitted under applicable laws
Pricing	To be determined by the Board in consultation with lead managers and advisors
Oversubscription	Board has discretion to retain oversubscription as permitted

Intended Use of Funds

The company has outlined several potential uses for the funds raised through this initiative:

Capital expenditure
Working capital requirements
General corporate purposes
Other purposes as determined by the Board

Next Steps

To move forward with this capital raising plan, Rossell Techsys will be seeking shareholder approval. The company plans to conduct a postal ballot to obtain approval through a special resolution for the issuance of securities.

Regulatory Compliance

In adherence to regulatory requirements, Rossell Techsys has informed the stock exchanges about this development. The company's disclosure aligns with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This capital raising initiative by Rossell Techsys could potentially provide the company with the financial resources needed to fuel its growth strategies and strengthen its market position. Investors and market watchers will likely keep a close eye on how the company utilizes these funds to drive its business forward.

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Rossell Techsys Limited (NSE: ROSSTECH) has secured a significant long-term contract with aerospace giant Boeing (NYSE: BA), further solidifying its position in the global aerospace supply chain. The Bengaluru-based company has signed an Indefinite Delivery, Indefinite Quantity (IDIQ) agreement to manufacture electrical panel assemblies for Boeing's T-7A Red Hawk advanced pilot training system.

Contract Details

The newly inked contract allows Rossell Techsys to produce up to 1,200 shipsets of electrical panel assemblies through 2033. This agreement builds upon the company's previous IDIQ contract for wire harness assemblies for the same platform, showcasing Boeing's continued trust in Rossell's capabilities.

Expanding Partnership

Rossell Techsys has been associated with the T-7A Red Hawk program since its engineering and manufacturing development stages. The company's consistent performance and quality output have not gone unnoticed, as evidenced by two prestigious Boeing 'Supplier of the Year' awards.

Rishab Gupta, Managing Director of Rossell Techsys Limited, expressed pride in the strengthened partnership, stating, "This contract further strengthens our long-standing partnership with Boeing, which began in 2013. It is a privilege to contribute to this global initiative and reinforce India's position as a hub for aerospace manufacturing excellence."

Diverse Portfolio

The collaboration between Rossell Techsys and Boeing extends beyond the T-7A Red Hawk. The Indian company supports Boeing across multiple defense platforms, including:

F/A-18 Super Hornet
F-15 Eagle
AH-64 Apache
CH-47 Chinook
V-22 Osprey
P-8 Poseidon
KC-46 Pegasus

To date, Rossell Techsys has delivered more than 160,000 critical assemblies to Boeing, underscoring its reliability and expertise in the aerospace manufacturing sector.

About Rossell Techsys

Headquartered in Bengaluru, Rossell Techsys Limited is a globally focused company that provides end-to-end design, custom engineering, and manufacturing services for the Aerospace, Defense, and adjacent industries. The company boasts a strong export footprint and operates with multiple integrated certifications across quality, risk management, environmental stewardship, organizational health, and cybersecurity.

This latest contract not only strengthens Rossell Techsys' relationship with Boeing but also reinforces India's growing importance in the global aerospace manufacturing landscape. As the company continues to expand its capabilities and portfolio, it is well-positioned to capitalize on future opportunities in the aerospace and defense sectors.