Samtel Avionics bags Rs 75 crore investment from True North Private Credit

New Delhi, Dec 17 (PTI) Samtel Avionics on Wednesday said it has raised Rs 75 crore from True North Private Credit to fund growth and expansion.

The deal also carries a green shoe option of Rs 140 crore for additional funding as the company scales up.

“This funding marks a significant milestone in Samtel Avionics’ expansion strategy as it strengthens its capabilities in high-tech electronics for defence, aerospace, railways, as well as emerging sectors like satellites, and unmanned systems (UAVs/ Drones).

“The capital will be deployed to accelerate research and development, expand manufacturing capacity, and drive adoption of advanced indigenous technologies for mission-critical applications,” Samtel Avionics said in a statement.

Gurugram-based Samtel Avionics, part of the 50-year-old Samtel Group, supplies advanced and rugged electronic systems for the defence, aerospace and railway sectors.

It has integrated capabilities covering design, development, manufacturing, testing and lifecycle support for mission-critical platforms. The company is also widening its portfolio to include UAV and satellite systems to cater to future defence and aerospace requirements. PTI ANK ANK ANU ANU