Indian defense is a sunrise industry given the impetus of the Prime Minister to substitute several years of import reliance with domestic manufacturing. The attractiveness of the sector has further increased as the Government has also opened up the sector for private companies to participate in the growth story and compete for big ticket orders. Besides, progressive easing of FDI norms from 26% to 74% under the automatic route has further increased attractiveness of the sector In the quest for ‘Atmanirbhar Bharat’, defense manufacturing is going to be of utmost priority, and to augment capabilities and technology, Indian firms need access to capital – both equity and debt. One such company which is soon going to debut on the bourses is Hyderabad Based M-Tar Technologies. It is one of the many recent IPOs from this sector - and the first from the private sector in a while. The company is into precision engineering and serves a diversified clientele including the DRDO, ISRO, Nuclea
Nearly 30 years on after the HF Marut - India's first fighter bomber was retired (and 60 years since its induction, the Indian Air Force finally got a homegrown boy in their ranks with the Tejas. After inducting 40 Tejas Mk 1 in their inventory, the IAF has formally placed its order to the HAL for the procurement of 83 Tejas Mk1-A for a sum of 48,000 crores. The Mk1-A is a significantly upgraded version of the Mk1 and the full infographic on the capabilities of the aircraft is attached below - In what would be a force multiplier to the manufacturing industry in general, Close to 550 domestic companies – large and small -- will benefit as a result of being amongst the vendor base for the Tejas – India’s first indigenously made fighter aircraft. For instance, the Fuselages for the aircraft will be manufactured by Dynamatic Technologies and VEM Technologies. The wings of the aircraft will be made by L&T. The Armory would consist of a blend of Indian and Israeli technology - wit