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    The board of Kabra Extrusion Technik, a leading manufacturer of plastic extrusion machinery, has approved raising Rs 301 crore for the expansion of its battery division, Battrixx. Rs 101 crore will be raised initially through share issuances to promoters and foreign investors, while Rs 200 crore will come from financial institutions for working capital. The funds will increase Battrixx's annual battery pack production capacity from 100,000 to 700,000 packs by 2024 to meet growing demand in electric vehicles and energy storage.

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    The board of Kabra Extrusion Technik, a leading manufacturer of plastic extrusion machinery, has approved raising Rs 301 crore for the expansion of its battery division, Battrixx. Rs 101 crore will be raised initially through share issuances to promoters and foreign investors, while Rs 200 crore will come from financial institutions for working capital. The funds will increase Battrixx's annual battery pack production capacity from 100,000 to 700,000 packs by 2024 to meet growing demand in electric vehicles and energy storage.

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    Kabra Extrusion Technik Board Approves Raising Rs 301 CR For Expansion - The Economic Times

    Uploaded by

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    The board of Kabra Extrusion Technik, a leading manufacturer of plastic extrusion machinery, has approved raising Rs 301 crore for the expansion of its battery division, Battrixx. Rs 101 crore will be raised initially through share issuances to promoters and foreign investors, while Rs 200 crore will come from financial institutions for working capital. The funds will increase Battrixx's annual battery pack production capacity from 100,000 to 700,000 packs by 2024 to meet growing demand in electric vehicles and energy storage.

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    8/6/22, 1:15 PM Kabra Extrusion Technik board approves raising Rs 301 cr for expansion - The Economic Times

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    Business News › Industry › Ind'l Goods/Svs › Paper / Wood / Glass/ Plastic/ Marbles › Kabra Extrusion Technik board approves raising Rs 301 cr for expansion

    Kabra Extrusion Technik board approves raising


    Rs 301 cr for expansion
    PTI Last Updated: Dec 25, 2021, 03:18 PM IST
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    Synopsis

    ec n a n i F j
    A part of the city-based Kolsite Group and leading manufacturer of plastic extrusion

    ec n a n i F j a j a B
    machinery, Kabra Extrusion Technik recently ventured into the production of lithium-ion
    battery packs.

    The board of Kabra Extrusion Technik


    has approved a proposal to raise up to
    Bajaj
    Rs 301 crore for the expansion of its
    future technologies brand Battrixx, the
    company said on Saturday. Of this, Rs
    Finance
    101 crore will be raised initially through
    issuance of warrants to promoters and Fixed
    Deposit
    These funds will enable Battrixx to enhance its
    foreign investors while Rs 200 crore
    annual production capacity in phases from will be mopped up through financial
    existing 100,000 battery packs to 700,000 packs
    by the end of FY24 to meet the growing demand institutions for the working capital, the
    in EV industry and other energy storage
    applications, it said. company said in a release.

    Bajaj Finance
    A part of the city-based Kolsite Group and leading manufacturer of plastic
    extrusion machinery, Kabra Extrusion Technik recently ventured into the
    production of lithium-ion battery packs.

    Book Now
    According to the company, Battrixx is positioned to provide a wide range of
    advanced Li battery packs with smart battery management system (BMS).
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