Coromandel acquires addl 7% in Dhaksha for Rs 150 cr

New Delhi: Coromandel International Ltd on Monday announced the acquisition of an additional seven per cent stake in Chennai-based drone manufacturing firm Dhaksha Unmanned Systems with an investment of Rs150 crore.

The proceeds from this fundraise will help Dhaksha in strengthening its research and development efforts, cater to servicing large orders and meeting its working capital needs, the company said in a statement.