BharatRohan Subsidiary Plans Up to $5M Private Placement in USA

BharatRohan INC, a step-down subsidiary of BharatRohan Airborne Innovations Ltd, is planning to raise up to USD 5 million through a private placement in the United States. The subsidiary is currently in discussions with prospective investors in the USA. Following the fundraising, BharatRohan Airborne Innovations Limited will continue to hold more than 50% of BharatRohan INC, which will remain a step-down subsidiary. The funds will be used for the business operations and general corporate purposes of BharatRohan INC. in the United States. The parent company is not committing any capital or guarantee for this fundraising.