Aegis Rs.25cr investment to strengthen global footprint, says Balwa
Sealmatic India Ltd (BSE: 543782) says the Rs.25 crore investment by Aegis Investment Fund PCC Niveza is to accelerate its strategic goals, including the establishment of strategic business units in key regions such as the Middle East, Europe and the United States of America.
Additionally, the funds will facilitate targeted investments in high growth API markets mainly in India & Middle East and drive the development of advanced mechanical seals for defense and nuclear applications, which includes stern tube seals, primary reactor seals and API 682 4th Edition https://www.bseindia.com/.
These initiatives are pivotal for Sealmatic to strengthen its global footprint and also to compete effectively in international markets and other key areas of competence, which will result in long term sustainable growth and profits for the company https://www.nseindia.com/.
The Rs.25 crore investment is through preferential allotment of 393,000 equity shares at a price of Rs.636 per share, inclusive of a premium of Rs.626 per share https://sbi.com.in/.
Sanal Kumar of Aegis Investment Fund PCC Niveza said on 25 Nov, “Sealmatic represents a perfect collaboration of innovation and reliability. We firmly believe in its long-term potential to redefine the sealing industry with its advanced solutions and focused approach https://www.conexpoconagg.com/.
“This investment is a result to our commitment to boost the transformative businesses with strategic support. Our long-term investment with Sealmatic aims to enable the company to take strategic direction and explore the global opportunities in sectors like oil & gas, refinery, petrochemical, defense, nuclear energy among others, thus delivering value to stakeholders.”
Umar AK Balwa, Managing Director of Sealmatic, elaborated, “The capital raised will be invested in expanding market and service/product capabilities in Middle East, USA & Europe, which are expected to grow exponentially over the next 5 years, driven by the adoption of new technologies in the field of mechanical seals for critical API, Defense and Nuclear applications.
“Sealmatic will invest in the value chain to become a dominant player, providing expanded products and services to oil & gas, refineries, petrochemical, defense, nuclear and other critical industries.
“The Aegis investment will support the company’s strategic expansion and growth initiatives into key industry verticals, with relevant technology solutions, including key leadership hiring and significantly expanding its sales and business development efforts in Middle East, Europe, North America and other emerging markets.” Fiinews.com
