Hyderabad: Aerospace and defence manufacturer Sigma Advanced Systems has wrapped up a ₹460 crore preferential allotment to fuel its capacity expansion and expand its global manufacturing footprint on the back of surging demand for aerospace and defence components.The capital raise was led by Chennai-based Spark Capital, which placed Rs 360 crore with 23 family office and ultra-high-net-worth individual (UHNI) investors through its equity capital markets (ECM) platform Midas Transactions.The fundraising comes as the Hyderabad-headquartered company expands its international order book and manufacturing base. The company has been on an acquisition spree in the UK market, acquiring aerospace engineering companies such as Nasmyth Group and Bromford Precision Solutions Ltd, the latter for £11.89 million, or about ₹153 crore.The company has also recently secured a ₹3,800 crore contract from Rolls-Royce for aerospace components and has received multiple export orders from North America.Sigma CEO Sunil Kalidindi said the capital would support capability expansion, international growth and technology development as global demand for trusted defence and aerospace manufacturing partners rises across key global export markets.Sigma designs and manufactures precision platforms, subsystems and mission-critical solutions for defence and aerospace applications. Its portfolio includes counter-unmanned aerial systems, unmanned aerial systems, missile systems, radar and electronic warfare, avionics, naval systems and AS9100D-compliant aerospace manufacturing. The company operates integrated facilities in India and the United Kingdom.Spark Capital said the response to the fundraise reflected rising private investor interest in India’s defence and aerospace manufacturing sector.Vaibhav Arren, executive director and business head, Midas Transactions, Spark Capital, said Sigma’s execution record, technology capabilities and order book had drawn investor interest amid India’s defence indigenisation push.
