ASM Technologies to raise Rs 170 crore

The company said that the fundraise is part of its strategic objectives to be a global leader in design-led manufacturing.

ASM Technologies on Wednesday said it plans to raise Rs 170.1 crore through preferential allotment of equity shares and warrants. ASM Technologies has raised Rs 70 crore out of total planned fundraise of Rs 170.1 crore and the balance of Rs 100.1 crore will be received over the period of 18 months, the technology firm said in a regulatory filing.

"ASM Technologies announced preferential allotment of equity shares and warrants amounting to Rs 1701 million of which Rs 700 million has been raised today, the company said on Wednesday. The fundraise was led by stock market investor Mukul Agrawal in which the promoters also participated, the filing said.

The company said that the fundraise is part of its strategic objectives to be 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.

"We view this as a strategic enabler to further enhance our capabilities, drive technological advancements, and solidify our presence in key global markets," ASM Technologies, Managing Director, Rabindra Srikantan said.