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Hughes Precision secures Rs 250 crore investment to expand ammunition manufacturing capacity and enter medium-calibre segment.
Amount Raised
₹2.5 Billion
Round Type
Venture
GoaManufacturingInvestors
Description
Goa-based defence manufacturer Hughes Precision Manufacturing has completed an investment round of over Rs 250 crore from a group of ultra-high-net-worth individuals (UHNIs). The capital will support expansion of small-calibre ammunition capacity from 80 million to 220 million rounds annually and establish a new medium-calibre ammunition manufacturing facility. The company's order book has exceeded Rs 1,000 crore, with 60% from domestic customers including the Indian Armed Forces and 40% from export markets. The expansion will enable Hughes Precision to serve a wider range of requirements from Indian and international defence customers.
Fundz sees it the moment Hughes Precision Manufacturing Pvt. Ltd raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Hughes Precision Manufacturing Pvt. Ltd raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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