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Goodluck India Ltd. unveiled plans to tap into the Defence and Aerospace sectors through its wholly-owned subsidiary — Goodluck Defence and Aerospace Private Limited.
The company has also disclosed intentions to issue up to 5 lakh warrants, on a preferential basis to the promoter category, at an exercise price of ₹600 per underlying equity share with a face value of ₹2 each. Additionally, Goodluck India will issue up to 11 lakh equity shares, preferentially to the non-promoter category, at an exercise price of ₹600 per equity share. According to the company, this move aims to raise approximately ₹96 crore.
Also Read | Goodluck eyes ₹200 cr capex for ramping up exports, defence sector supplies
Goodluck Defence And Aerospace Private Limited is a private entity primarily focused on forging, machining, treatment, and coating of steel, stainless steel, special steel, alloys, or any other metal through various methods including open forging, die forging, and robotic forging. Although the subsidiary is yet to commence operations, an investment of ₹40 crore from the proposed Preferential Issue of the parent company will be directed towards this subsidiary.
However, shares were down by 0.47 per cent to ₹620.75 at 11 a.m. on the BSE.
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