Other Private Equity/Strategic Investments
IT hardware supplier Danube Industries to raise $50-M from Fox Petroleum Group
BSE Announcement Business Line
Ahmedabad-based, publicly listed Danube Industries is to raise USD 50 million (INR 472 crore) from New Delhi-headquartered Fox Petroleum Group. The funding is expected to be delivered in two equal tranches of USD 25 million, with the first infusion scheduled within 30 days and the second expected around December 2026.Founded in 1980 by Sunil Rajdev, Danube Industries is engaged in the trading, distribution, and engineering of IT hardware and electronics.The company plans to use the first tranche of capital to strengthen its existing operations, while the second tranche is designated for future acquisitions aligned with its long-term growth strategy. Post investment, the company would be renamed Fox Danube Technologies.As part of the strategic partnership, the company will focus on artificial intelligence, advanced manufacturing, IT-enabled services, infrastructure, energy technologies, and international business development. Additionally, Danube plans to launch an AeroDefence division on August 15, which will facilitate activities related to the Maharashtra Aerospace and Defence manufacturing corridor.
For FY25, Danube Industries had reported about INR 110 crore in Operating Income and about INR 1 crore in PAT.
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