Goodluck Defence Subsidiary Raises ₹276 Cr Via Preferential Issue

Goodluck Defence and Aerospace Limited, a subsidiary of Goodluck India Limited, has successfully raised ₹276 Crore through a preferential issue. This involved the allotment of 73,60,000 equity shares at ₹375 per share to non-promoter entities. The funds will be utilized for business requirements, including improving financial performance, enhancing margins, working capital, capital expenditure, and general corporate purposes. The subsidiary is also scaling its artillery shells production capacity from 1,50,000 to 4,00,000 units per annum. Following this issue, Goodluck India Limited's equity shareholding in the subsidiary is now 69.08%.