Goodluck India to expand Defence and Aerospace wing by raising Rs 96 Cr

Goodluck Defence and Aerospace Private Ltd, a wholly-owned subsidiary of Goodluck India Ltd, has announced its expansion plans, which include the manufacturing of machine products for the defence and aerospace industry.

Further, the board of Goodluck India also approved a preferential issue valued at Rs 96 crore, according to the company filing on the exchanges.

Noteworthy, Goodluck Defence and Aerospace was incorporated on August 31, 2023.

The company’s main objective is to carry out the business of forging, machining, treatment, and coating of steel, stainless and special steel, alloys or any other metal by open forging, die forging, robotic forging or any other method.

As of now, the company is yet to commence its business operations and has received Rs 40 crore from its parent company as an investment.

The total funds proposed to be raised through the preferential route amount to around Rs 96 crore.