ASM Technologies announced on Wednesday its plan to raise ₹170.1 crore through the preferential allotment of equity shares and warrants. The company has already raised ₹70 crore out of the total planned fundraise, with the remaining ₹100.1 crore expected to be received over the next 18 months, as per a regulatory filing.
“The fundraise was led by stock market investor Mukul Agrawal, in which the promoters also participated,” the filing stated.
ASM Technologies highlighted that this fundraise is aligned with its strategic objectives to become a global leader in design-led manufacturing. “The forthcoming fundraise marks a pivotal moment for ASM Technologies Limited. With a clear focus on strategic growth, this infusion of capital not only bolsters our financial resilience but also underscores our commitment to innovation and market leadership,” said Rabindra Srikantan, Managing Director of ASM Technologies.
“We view this as a strategic enabler to further enhance our capabilities, drive technological advancements, and solidify our presence in key global markets,” Srikantan added.
As of 1:46 pm, the shares were trading 5% higher at ₹982.50.
