Coromandel increases its share in the drone company Dhaksha

15 May 2024 CW Team

Dhaksha has received many orders from defence and agricultural input firms in the last year, and as of now, it has Rs 2.6 billion in open orders. Dhaksha, a prominent participant in India's drone industry, was founded in 2019 and has its headquarters in Chennai. It offers a wide range of unmanned aerial systems (UAS) technological solutions for use in enterprise, defence, agriculture, and surveillance applications.

The business recently built a cutting-edge manufacturing plant outside of Chennai, increasing its production capacity. The money raised from this fundraiser will support Dhaksha's efforts to satisfy its working capital requirements, service large orders, and improve its research and development initiatives.

Arun Alagappan, executive chairman of Coromandel International, commented on the investment in Dhaksha, saying that Coromandel has been involved with Dhaksha since its early start-up phase and has provided support in terms of talent acquisition, research and development, and production scale-up. He mentioned that over the past year, Dhaksha has enhanced its technological capabilities and made investments in research activities aimed at developing new products and applications. Alagappan stated that this investment in Dhaksha is in line with Coromandel's vision of diversifying into technology spaces and promoting the adoption of technology in various fields. He expressed the company's commitment to introducing the latest innovations in drones and assisting Dhaksha in becoming a leading drone manufacturer in the country.

An additional 7% acquisition in Chennai-based drone manufacturing company Dhaksha Unmanned System by Coromandel International, through its wholly-owned subsidiary Coromandel Technology (CTL), was recently announced by investing Rs 1.5 billion. This has increased its overall shareholding in Dhaksha to 58%. Dhaksha has received many orders from defence and agricultural input firms in the last year, and as of now, it has Rs 2.6 billion in open orders. Dhaksha, a prominent participant in India's drone industry, was founded in 2019 and has its headquarters in Chennai. It offers a wide range of unmanned aerial systems (UAS) technological solutions for use in enterprise, defence, agriculture, and surveillance applications. The business recently built a cutting-edge manufacturing plant outside of Chennai, increasing its production capacity. The money raised from this fundraiser will support Dhaksha's efforts to satisfy its working capital requirements, service large orders, and improve its research and development initiatives. Arun Alagappan, executive chairman of Coromandel International, commented on the investment in Dhaksha, saying that Coromandel has been involved with Dhaksha since its early start-up phase and has provided support in terms of talent acquisition, research and development, and production scale-up. He mentioned that over the past year, Dhaksha has enhanced its technological capabilities and made investments in research activities aimed at developing new products and applications. Alagappan stated that this investment in Dhaksha is in line with Coromandel's vision of diversifying into technology spaces and promoting the adoption of technology in various fields. He expressed the company's commitment to introducing the latest innovations in drones and assisting Dhaksha in becoming a leading drone manufacturer in the country.

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