Dare Ventures Ltd increases stake in Dhaksha Unmanned Systems Pvt Ltd to 16.82%

Dare Ventures Limited, a wholly owned subsidiary of Coromandel International Limited, has subscribed to 7.40% paid up share capital of Dhaksha Unmanned Systems Private Limited (Dhaksha) at a consideration of Rs. 15.99 crores, thereby increasing its shareholding in Dhaksha to 16.82% of fully paid up and issued equity share capital of Dhaksha.

The Company's investment, through its wholly - owned subsidiary, in Dhaksha underscores its commitment to help Indian farmers access latest technologies in agriculture. The Company believes the drone technology will be a game changer in increasing the adoption of watersoluble fertilisers, liquid fertilisers, nano fertilisers, in addition to the crop protection products in India.

Dhaksha Unmanned Systems Private Limited (Dhaksha) is engaged in manufacturing of unmanned aerial systems and related equipment. Dhaksha is a drone technology startup company engaged in providing a complete range of unmanned aerial systems (UAS) technology solutions for different applications like agriculture, defense, surveillance, etc. The company is incorporated in the year 2019 and is headquartered in Chennai, India. The company works on drone technologies and is into manufacturing, sales and service of a variety of drones targeting different sectors and different use cases and is also into providing drone pilot training.

Shares of Coromandel International Limited was last trading in BSE at Rs. 942.10 as compared to the previous close of Rs. 948.55. The total number of shares traded during the day was 2813 in over 486 trades.

The stock hit an intraday high of Rs. 952.45 and intraday low of 935.20. The net turnover during the day was Rs. 2658607.00.

Source : Equity Bulls

Keywords

CoromandelInternational INE169A01031 DareVentures StakeIncrease DhakshaUnmannedSystems