Rajoo Engineers raises Rs 160 crore via QIP; investor participation includes Morgan Stanley, HDFC Bank, BNP Paribas
The QIP received an enthusiastic response from both domestic and international institutional investors. Notable participants included Morgan Stanley Asia (Singapore), HDFC Bank Limited, BNP Paribas Financial Markets – ODI, Credit Access Life Insurance, and Rajasthan Global Securities Pvt. Ltd., among others. As a result of the QIP, Foreign Institutional Investor (FII) holding in Rajoo has increased to 3.8%, while Domestic Institutional Investor (DII) holding has risen to 4.46%.
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Khushboo Doshi, Managing Director of Rajoo Engineers Ltd, remarked, 'This successful fundraise of ₹160 crore marks a significant milestone in our journey. The enthusiastic response from institutional investors underscores the trust in our business fundamentals, innovation-led strategy, and long-term vision. We are committed to leveraging this capital to further scale our operations and create long-term value for our stakeholders.'
Fund utilization and growth plans
The company plans to use the proceeds from the QIP to pursue inorganic growth through strategic acquisitions. These acquisitions will be targeted at expanding scale, enhancing product offerings, and entering new geographic markets. Rajoo said the strategy focuses on complementing its core business, advancing technology, and creating operational synergies.
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