Raymond to expand engineering business

10 Sep 2012

Raymond, a premium apparel maker, is planning for an aggressive expansion in the auto parts segment. The company aims to be a one-stop shop for vehicle manufacturers in the specialized category such as power trains (engine, transmission, drive shaft), while being present in other segments.

The entity is considering investing Rs 1,000-1,500 crore to fund its growth plans in the coming years. The company is in talks with private equity players and is also considering an initial public offering (IPO) of shares for its engineering business in the medium term.

The company is also looking to acquire another forged machine parts maker of medium size in India, while it is planning to acquire engineering technology firms abroad.

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