Hughes Precision Raises $26m for Ammunition Expansion

Hughes Precision Manufacturing raised over $26 million from family offices and ultra-high-net-worth individuals to expand small-calibre ammunition output from 80 million to 220 million rounds and enter medium-calibre production. The Indian private-sector maker, founded in 2016, has an order book above Rs 1,000 crore, split 60% domestic and 40% export, to be executed over two years.