Vinyas Innovative Secures ₹150 Crore Funding, Achieves NADCAP Accreditation

Vinyas Innovative Technologies Limited, based in Mysuru, has announced a significant ₹150.04 crore funding round, spearheaded by Singularity Ventures alongside other notable investors. This development comes as the company, listed on NSE SME as VINYAS, secures NADCAP accreditation from the Performance Review Institute.

The funding involves issuing 13,64,000 convertible warrants, priced at ₹1,100 each. The raised capital aims to strengthen the company's working capital and expand production capacity to meet increasing demand.

Managing Director Narendra Narayanan highlighted the robust ₹1,018 crore order book, emphasizing that the combination of new financial resources and NADCAP accreditation enhances Vinyas's position in the aerospace and defence sectors, potentially facilitating India's ₹50,000 crore defence export target by 2029.

(With inputs from agencies.)