Avantel to raise Rs 80.90 cr via rights issue to expand manufacturing, service infra

New Delhi: Avantel Ltd, a provider of technology solutions to the defence and communication sectors, has announced plans to raise Rs 80.90 crore through a rights issue. The funds will be directed towards the expansion of manufacturing facilities and infrastructure in Andhra Pradesh and Telangana, including establishing dedicated facilities for the design, development, and production of electronics, antennas, and satellite communication systems.