Falcon Technoprojects India Ltd plans to raise Rs 21.43 crore by offering 2.14 crore equity shares at Rs 10 each through a rights issue from April 7 to April 16. The Mumbai-based engineering firm will use proceeds to meet working capital needs and has NSE Emerge's in-principle approval.

Falcon Technoprojects India Ltd Announces Rs 21.43 Crore Rights Issue

Engineering firm Falcon Technoprojects India Ltd announced on Tuesday its intention to raise Rs 21.43 crore through a rights issue set for next month.

The rights issue will be open from April 7 to April 16, with an in-principle nod from NSE Emerge. The Mumbai-based company, which specializes in solutions like mechanical installations and solar water heating, offers up to 2.14 crore equity shares at Rs 10 per share.

The funds are aimed at meeting the company's working capital requirements. The offer is structured to provide four rights equity shares for every existing share held by shareholders.

(With inputs from agencies.)