Hughes Precision Raises INR 250+ Cr to Enter Medium-Caliber Ammo
Hughes Precision raises INR 250+ crore to expand small-caliber capacity and enter medium-caliber ammunition.
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Hughes Precision Manufacturing, a private-sector ammunition manufacturer based in Goa, has raised over INR 250 crore through a combination of primary and secondary investment from family offices and ultra-high-net-worth individuals. STEER Advisors acted as sole advisor on the transaction.
The capital will support the company’s expansion of its existing small-caliber ammunition manufacturing capacity from approximately 80 million to 220 million rounds annually, alongside the establishment of a dedicated medium-caliber ammunition manufacturing facility. The move into medium-caliber ammunition marks an expansion beyond Hughes Precision’s established small-caliber business, aimed at addressing a broader range of requirements from the Indian Armed Forces and international defence customers.
The expansion comes as Hughes Precision’s order book has crossed INR 1,000 crore, with about 60% from the Indian market and 40% from exports. Domestic orders include requirements from the Indian Army, Police and Paramilitary Forces, while the export book reflects the company’s growing international customer base. The current order book is scheduled for execution over approximately the next two years.
Established in 2016, Hughes Precision supplies customers across more than 20 countries spanning North America, Europe, the Middle East, Africa and Asia. The company holds the largest range of calibers in small-caliber ammunition among its peers and is India’s only manufacturer and exporter of high-precision sniper ammunition used by Special Forces. Its R&D division is recognized by India’s Department of Scientific and Industrial Research (DSIR) as a center of excellence in ammunition. The company received the Highest Export Performance award in the Defence MSME sector last year from Defence Minister Rajnath Singh.
Hughes Precision Manufacturing, a private-sector ammunition manufacturer based in Goa, has raised over INR 250 crore through a combination of primary and secondary investment from family offices and ultra-high-net-worth individuals. STEER Advisors acted as sole advisor on the transaction.
The capital will support the company’s expansion of its existing small-caliber ammunition manufacturing capacity from approximately 80 million to 220 million rounds annually, alongside the establishment of a dedicated medium-caliber ammunition manufacturing facility. The move into medium-caliber ammunition marks an expansion beyond Hughes Precision’s established small-caliber business, aimed at addressing a broader range of requirements from the Indian Armed Forces and international defence customers.
The expansion comes as Hughes Precision’s order book has crossed INR 1,000 crore, with about 60% from the Indian market and 40% from exports. Domestic orders include requirements from the Indian Army, Police and Paramilitary Forces, while the export book reflects the company’s growing international customer base. The current order book is scheduled for execution over approximately the next two years.
