The fresh capital will be used to lift the company's small‑caliber ammunition capacity from roughly 80 million rounds a year to about 220 million rounds, and to set up a dedicated medium‑caliber production line, the firm said in a press release.
The medium‑caliber facility is intended to broaden Hughes Precision’s product portfolio beyond its established small‑caliber range, enabling it to meet a wider set of requirements from the Indian Army, police and paramilitary forces as well as international defence customers.
Hughes Precision’s order book has already crossed the ₹1,000 crore mark, with about 60 % of orders coming from domestic defence and law‑enforcement agencies and the remaining 40 % from export markets spanning more than 20 countries across North America, Europe, the Middle East, Africa and Asia.
The company plans to execute the current order backlog over the next two years, a timeline that underpins the urgency of the capacity expansion and the new medium‑caliber line.
The fundraising round was led by a consortium of marquee ultra‑high‑net‑worth individuals, with STEER Advisors acting as the sole financial adviser on the transaction.
The investment arrives as India intensifies its push for indigenous defence manufacturing and seeks to boost defence exports, a policy environment that Hughes Precision says aligns with its ambition to become a globally respected ammunition supplier.
Hughes Precision, founded in 2016, has been recognised by the Department of Scientific and Industrial Research as an R&D centre of excellence in ammunition and received the Highest Export Performance award in the defence MSME sector from Defence Minister Rajnath Singh last year.
Company executives said the new funding will also support further investments in quality, technology and talent, reinforcing the firm’s "Always on Target" philosophy and its goal of contributing to India’s self‑reliance in defence production.