The Board of Directors (BOD) of Kabra Extrusion Technik Ltd has approved a proposal to raise Rs 301 crore to expand its future technologies brand Battrixx, the company said on Saturday. Of this, Rs 101 crore will be introduced initially by issuing warrants to promoters and foreign investors. In comparison, Rs 200 crore will be mopped up through financial institutions for the working capital, the company said in a release.
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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.
According to the company, Battrixx is positioned to provide a wide range of advanced Li battery packs with a smart battery management system (BMS).
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