Raymond Limited notified about two important updates:
- They’re buying a 59.25% stake in another company called Maini Precision Products Limited (MPPL) for ₹682 crores. They’re using a mix of debt and their own money to pay for it. This will help them expand into growing areas like Aerospace, Defense, and Electric Vehicles (EV).
- They’re reorganizing their engineering businesses by combining them into a new company. This new company will focus on precision engineering products, and Raymond Limited will own 66.3% of it.
This is a strategic move to grow their engineering business and enter new, promising industries. They’re excited about the opportunities this will bring. The acquisition will be subject to regulatory approvals and should be completed soon.
Subscribe To Our Free Newsletter |