"Goodluck India Expands Defense and Aerospace Operations via Wholly-Owned Subsidiary"

Goodluck India Ltd., a leading manufacturer specializing in engineered steel products for various sectors including automotive, aerospace, oil & gas, transmission and distribution, defense, solar, and overall infrastructure, has unveiled its strategic move to tap into the burgeoning Defense and Aerospace sectors. The company's expansion in these high-growth domains will be facilitated through its wholly-owned subsidiary, Goodluck Defence and Aerospace Private Limited.

In addition to this significant development, Goodluck India Ltd. has also announced plans to issue up to 5,00,000 warrants on a preferential basis to the promoter category. These warrants will have an exercise price of Rs. 600/- per underlying equity share, each with a face value of Rs. 2/- (including a premium of Rs. 598/- per equity share), or as determined in accordance with SEBI regulations. Furthermore, the company intends to issue up to 11,00,000 equity shares, again on a preferential basis, to the non-promoter category, with the same exercise price per equity share. The total funds anticipated to be raised through this preferential route amount to approximately Rs. 96 crore. These decisions were made during a recent Board Meeting and are subject to approval from relevant authorities and members.

Goodluck Defence And Aerospace Private Limited, incorporated on August 31, 2023, is dedicated to forging, machining, treating, and coating steel, stainless steel, special steel, alloys, or any other metal using various forging methods. Although the company has not yet commenced its operations, it is slated to receive an investment of Rs. 40 crore from the proposed Preferential Issue by its parent company.

Mr. M.C. Garg, Chairman of Goodluck India, expressed enthusiasm about the company's new strategic direction, stating, "We are thrilled to begin a new journey towards growth and value creation. India is at the cusp of innovation and industrial renaissance, with the Government's razor-sharp focus on Make In India, Aatmanirbhar Bharat, and a vision for a developed economy by 2047. Defence and Aerospace sectors will be at the epicenter of this audacious vision. Therefore, we have decided to channel our experience and capabilities through a wholly-owned subsidiary, dedicated to exploring larger opportunities in these high-growth sectors."

He further emphasized, "We are further raising funds through a preferential issue, which will enable us to capitalize on the immense opportunities offered by a robust economy transforming into a developed nation, given its demography, resilience, and entrepreneurial capabilities, amidst a fast-evolving global environment."

Goodluck India's foray into the Defense and Aerospace sectors marks a strategic alignment with India's ambitious industrial goals, emphasizing self-reliance and fostering economic development in these vital sectors.

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