Endurance Technologies has received an approval for raising of funds through issuance of fresh/new equity shares through one or more public or private offerings or combination thereof as may be permitted under applicable law(s), for an amount up to INR 750 crore.
Endurance Technologies is one of the leading automotive component manufacturers, with operations both in India and Europe (Italy and Germany). The company has 26 plants across India, Italy and Germany. Out of 26 plants, 18 plants are in India, 3 plants are in Germany and 5 plants are in Italy.
In India, the Company cater to two and three wheeler OEM5 and its products include aluminium castings, suspensions, transmission and braking systems. In Europe, it caters to four wheeler OEM5 and mainly supply aluminium casting products.
Earlier this year, Endurance Technologies Ltd bagged an order from Hyundai Motor India, one of the key customers of the company, worth INR 42 crore for the supply of aluminium die casting parts from its Aurangabad facility during 2018-19. Bajaj Auto, Royal Enfield, Renault-Nissan, Daimler, Fiat Chrysler, BMW and Tata Motors are some of the buyers of its products.
Responses
