ASM Technologies witnessed a significant uptick in its share price, with a 5% increase on Thursday, triggering a lock-in upper circuit. 

Notably, since February 6th, the share price has more than doubled, surging by 117%. 

The company disclosed its plan to raise ₹170 crore through preferential allotment of equity shares and warrants, with ₹70 crore already secured on Wednesday, while the remaining ₹100 crore will be received over 18 months.

This capital raise, led by prominent stock market investor Mukul Agrawal, with participation from the promoters, is part of ASM Technologies' broader strategy to bolster its position as a global leader in design-led manufacturing. 

The company, renowned in semiconductor and automotive industries for its design-centric approach, aims to utilize the funds for various purposes, including financing takeovers and acquisitions in the design-led manufacturing sector, as well as meeting general corporate requirements and investments in associated ventures.

Rabindra Srikantan, the Managing Director of ASM Technologies, emphasized the transformative impact of the preferential issue on the company's future prospects, highlighting its commitment to innovation and market leadership. 

He stated, "The forthcoming fund raise marks a pivotal moment for ASM Technologies Limited. With a clear focus on strategic growth, this infusion of capital not only bolsters our financial resilience but also underscores our commitment to innovation and market leadership."

Over the next three years, ASM Technologies aims to accelerate its growth trajectory by leveraging the raised capital to enhance both its scale and competency. 

Additionally, the surge in ASM Technologies' share price, along with other semiconductor manufacturers, is influenced by the remarkable rally in the share prices of Nvidia Corporation, a leader in AI chips, which has seen an 88% year-to-date increase on the Nasdaq.

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