Avantel Limited, a key player in defence and communication technologies, is set to raise Rs 809 million through a rights issue, aimed at expanding its manufacturing footprint in Andhra Pradesh and Telangana. The funds will support the establishment of dedicated facilities for designing and producing electronics, antennas, and satellite communication systems.
Scheduled to open on May 15 and close on May 22, 2025, the issue may be extended but not beyond 30 days from the start date. Moreover, with full subscription, the company’s equity base will grow from 244.7 million to 264.9 million shares.
Meanwhile, the investment will also back the development of Ground Station as a Service (GSaaS) capabilities, as well as upgrades in software-defined radios, mobile communication systems, and aerospace antennas. A portion of the proceeds will go toward general corporate needs.
