Mumbai, Oct. 19 -- Agneyastra Energetics is a step-down wholly owned subsidiary of the company.

The funds will be used to operationalise AEL and enable it to establish a state-of-the-art facility for pour filling of ammunition shells. Incorporated on July 2, 2025, AEL is engaged in developing end-to-end defence energetics capabilities, including the manufacturing of high-energy explosives, high-explosive filling for heavy- and medium-calibre ammunition, gun propellants and rocket propellants.

The proposed investment will be made through a rights issue of equity shares at fair value in one or more tranches. The investment is expected to be completed on or before September 30, 2027. KSSL will continue to hold 100% of the shareholding in A...