360 ONE Asset Management Ltd, formerly known as IIFL Asset Management Limited, has pledged an investment of approximately $16 million (around Rs 134 crore) in CoreEL Technologies (India) Pvt Ltd. The investment aims to secure a minority stake in CoreEL, a prominent technology development, systems engineering, and product manufacturing company focusing on the aerospace and defense segment.
The funds from the investment will be strategically utilized to accelerate CoreEL’s growth plans, with a specific focus on research and development (R&D), new product development, and enhancing manufacturing capacity. Headquartered in Bengaluru, CoreEL is recognized for designing, manufacturing, and supplying advanced electronic products and complex systems to the Indian aerospace and defense industry, including the Ministry of Defence.
CoreEL’s electronic products play a vital role in India’s critical defense infrastructure, contributing to radars, missiles, electronic warfare, avionics, SONARS, and more. The company has received acclaim from prestigious entities such as the Ministry of Defence (MOD), the Defence Research and Development Organisation (DRDO), and various industry associations for its innovative products and processes.
Expressing enthusiasm about the investment, Vishwanath Padur, Managing Director of CoreEL Technologies, highlighted the company’s evolution into a world-class Electronic Product/Systems Development firm. He emphasized CoreEL’s track record of delivering critical electronic modules and subsystems to DRDO, MOD, and overseas customers. Padur noted that the investment would further accelerate CoreEL’s growth plans, including expanding manufacturing capacity and strengthening its ability to participate in large aerospace and defense programs.
The strategic investment from 360 ONE Asset Management positions CoreEL for continued innovation and growth in the dynamic aerospace and defense industry.
