Rajoo Engineers signs non-binding offer to acquire a machine manufacturer

New Delhi, Jul 26 (PTI) Rajoo Engineers Ltd has signed a non-binding indicative offer to acquire a company engaged in the manufacturing of machines catering to various industries, according to an exchange filing.

The target company, with a legacy spanning over three decades, enjoys a strong brand reputation and has established a notable presence in both domestic and international markets, Rajoo Engineers said in the filing without disclosing financial details.

“This proposed acquisition is a strategic move by Rajoo Engineers Limited as part of its vision for inorganic growth through forward integration,” the filing stated.

The synergy arising from this potential acquisition is expected to strengthen the company's position by offering end-to-end solutions to customers across the value chain, it said.

"The combined capabilities of both companies will not only enhance product offerings but also significantly expand the footprint in India and global markets," the company added.

Plastic extrusion machinery manufacturer Rajoo Engineers recently raised Rs 160 crore through a qualified institutional placement issue. It raised funds to utilise the net proceeds to pursue inorganic growth through strategic acquisitions aimed at expanding scale, product offerings and market presence. PTI ABI MR