Sealmatic Secures Rs 25 Cr Funds

Mumbai: Sealmatic India Ltd., has announced that Aegis Investment Fund PCC Niveza has invested Rs25 crore into the company. The preferential allotment involves the issuance of 3,93,000 equity shares at a price of Rs 636 per share.

The proceeds will be used to accelerate its strategic goals, including the establishment of strategic business units in key regions such as Middle East, Europe and the USA.

Additionally, the funds will facilitate targeted investments in high growth API markets mainly in India and Middle East and drive the development of advanced mechanical seals for defense and nuclear applications, which includes stern tube seals, primary reactor seals.