Himachal Futuristic Communications Limited (HFCL) has announced plans to invest approximately Rs 2.3 billion to establish a new defence manufacturing facility in Andhra Pradesh. The plant will be located in the Sri Satya Sai district of the state, HFCL said in a filing to the stock exchanges. Further, the project is expected to be completed by December 2027.
HFCL plans to fund the Rs 2.3 billion capital outlay through a combination of internal accruals, debt financing and proceeds from a preferential issue of convertible warrants. The facility will enable the company to design, develop and manufacture advanced defence systems, strengthening its defence product portfolio and long-term growth prospects in the sector.
