The Economic Times

HFCL to invest Rs 230 crore to set up defence manufacturing facility in Andhra Pradesh

Telecom gear maker HFCL will invest Rs 230 crore to build a new defence manufacturing facility in Andhra Pradesh. The plant will produce Multi-Mode Hand Grenades and similar products. This facility is expected to be operational by December 2027. The investment will be funded through internal accruals, debt and convertible warrants.