Goodluck India Ltd, a manufacturer of steel products, announced that it successfully raised approximately Rs 200 crore through the issuance of equity shares via a Qualified Institutional Placement (QIP). The company's board approved the issue and allotment of 21,27,659 equity shares to Qualified Institutional Buyers (QIBs) at an issue price of Rs 940 per share, with a premium of Rs 938 per share. This transaction amounts to nearly Rs 200 crore, as stated by the company in an official statement.

In the recently concluded QIP round, Goodluck India successfully secured nearly Rs 200 crore, according to the company's announcement. MC Garg, Chairman of Goodluck India, expressed that the fundraising aligns well with the company's growth strategy. Additionally, the company established a wholly-owned subsidiary, Goodluck Defense and Aerospace Private Limited, focusing on serving the extensive requirements of the defense and aerospace industries.

Goodluck India specializes in manufacturing a diverse range of engineered steel structures, precision/auto tubes, forging for defense and aerospace, CR (cold-rolled) products, and GI (galvanized iron pipes). These products find applications in various industries such as automobile manufacturing, infrastructure, engineering, oil and gas, among others.