Kilburn Engineering To Enhance Operation and Repay Loans: Raising ₹300 Crore

On August 27, 2024, Kilburn Engineering Ltd announced in an exchange filing that it would raise up to ₹300 crore through a preferential allotment of shares and/or convertible warrants at ₹425 per share (including a premium of ₹415). This proposal is subject to approval by the members at the upcoming Annual General Meeting.

The company further stated that it is committed to executing its growth strategy and will provide updates as it progresses with these initiatives.

Commenting on the fundraising initiative, Mr Ranjit Lala, Managing Director of Kilburn Engineering Ltd, stated, “This strategic move will strengthen the company’s financial position and support our growth initiatives. The raised funds will primarily be allocated towards ongoing acquisitions, expanding operations, repaying long-term debt, and pursuing future expansion and strategic acquisitions.”

Mr Amritanshu Khaitan, Director of Kilburn Engineering Ltd, added, “We are encouraged by the positive response to this fundraising effort. The support from our investors reaffirms their confidence in our strategic direction. This capital will enable us to accelerate our plans for both organic and inorganic growth and move towards becoming debt-free, positioning us for more rapid expansion.”

About Kilburn Engineering Ltd

Kilburn Engineering is a leader in technological advancements in process design, engineering, and manufacturing. The company specialises in providing equipment and systems for process plants, primarily within the chemical and petrochemical sectors. Kilburn is renowned for its market leadership in solid, liquid, and gas drying systems, offering solutions for industries such as tea, fertiliser, carbon black, soda ash, pharmaceuticals, dyes, pigments, and speciality chemicals.

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