Coromandel International Ltd, which is into fertilisers and crop protection chemical businesses, on Friday said its wholly owned subsidiary Dare Ventures Ltd has acquired an additional 7.4 percent in Dhaksha Unmanned Systems for Rs 15.99 crore.

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The acquisition of 951 equity shares of face value Rs 10 each, representing 7.4 percent of the paid-up equity share capital of Dhaksha, was completed on April 28, 2023, Coromandel said in an exchange filing. The shares are acquired at a price of Rs 1,68,166.15 per share.

Incorporated on April 2, 2019, and headquartered in Chennai, Dhaksha Unmanned Systems Private Ltd (Dhaksha) is engaged in the manufacturing of unmanned aerial systems and related equipment.

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Dhaksha is a drone technology startup company engaged in providing a complete range of unmanned aerial systems (UAS) technology solutions for different applications like agriculture, defense, surveillance, etc.

The company works on drone technologies and is into manufacturing, sales and service of a variety of drones targeting different sectors and different use cases and is also into providing drone pilot training.

(Edited by : Pradeep John)